KUALA LUMPUR: The Malaysian government is not ignoring or taking the decline of the ringgit lightly and is making continuous efforts to address the issue while also assuring that the country’s investment figures remain intact, Prime Minister Anwar Ibrahim said on Friday (Feb 23).
He added that the central bank has been assigned to monitor the ringgit closely. And on the government’s side, Mr Anwar stressed that relevant ministries and authorities – including the country’s investment council – are conducting daily meetings to tackle the issue.
“It is concerning. But look at the overall investments which are the biggest ever in the country’s (history), inflation continues to go down, unemployment is down and growth (is) sustained compared to our neighbours.
“I think (we should) take a comprehensive view and the country’s capacity for growth. What is more important to me is the reassuring investment figures,’ he told reporters after the launch of the Tun Razak Exchange as Malaysia International Financial Centre in Kuala Lumpur.
Experts whom CNA previously spoke to have warned that a further slip of the Malaysian currency may have political repercussions on Mr Anwar, especially if the public perceives a lack of action by his administration to tackle the issue. But one analyst said that such a scenario is unlikely given the “unassailable” majority the prime minister enjoys in Parliament.