Finance Minister II Amir Hamzah Azizan confirms no plans to peg ringgit due to differing economic conditions from 1998.
Finance Minister II Amir Hamzah Azizan said the government has no plans to peg the ringgit at this time, citing differences in economic conditions compared to 1998 when the ringgit was last pegged. In 1998, the stock market had plunged by 76%, foreign debt was over 16% of GDP, while now the stock market has risen 6.0% and foreign debt stands at 2.0-1.0%. The government will continue to be sensitive to the issue of the ringgit and work on addressing it.
March 19, 2024
3 Articles