“Tan Sri Zeti, as the Bank Negara governor, issued a reminder which we are confident is based on the various information on 1MDB that needs explanation and a solution”, Shafie told reporters in Semporna this morning. ― File picGEORGE TOWN, Sept 22 ― Prime Minister Datuk Seri Najib Razak must direct 1Malaysia Development Bhd (1MDB) to respond to question over its RM42 billion in debts, said DAP’s Lim Guan Eng.
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“The Malaysian ringgit is one of the many currencies, including the Norwegian krone, the Australian dollar, the Russian ruble and the Brazilian real, for example, that have dropped in value mainly due to the abrupt fall in oil prices, expectations of rising USA interest rates and concerns of economic slowdown in emerging markets”, 1MDB said.
“Historically, never once has one company been linked in such a way to the value of the Ringgit”, said 1MDB in a statement released to the media on Tuesday morning.
Zeti said this during a session at Malaysia’s Economic Update forum organised by the Performance Management and Delivery Unit (Pemandu) yesterday.
The Wall Street Journal said this month the U.S. Federal Bureau of Investigation began a probe into alleged offshore money laundering by 1MDB.
Aziz, globally known as the guarantor of Malaysia’s financial stability, said the ongoing 1MDB controversies were also impacting the Ringgit, since they have hit the image of the currency.
Federal Reserve’s interest-rate increase, a recovery in commodity prices and stabilization in China’s economy, Zeti said in Kuala Lumpur Monday.
“Once all the issues surrounding 1MDB are resolved, then we will see recovery in our currency”, said Zeti.
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The Central Bank governor also added she was aware that the public wanted answers and that local agencies such as the police and the Malaysian Anti-Corruption Commission were conducting investigations on this end while BNM had already concluded theirs and had handed in their findings to the Attorney-General’s Chambers.
