Finance minister says government will honour 1MDB commitments

11-Oct-2018 Intellasia | Malay Mail | 6:00 AM Print This Post

The government will honour any legal commitments made by the previous Barisan Nasional (BN) administration in relation to 1Malaysia Development Berhad (1MDB).

Finance minister Lim Guan Eng gave his assurance that he will not allow Malaysia to default, saying that the debt is Malaysia’s to bear, and not BN’s.

“We definitely will pay our dues, honour our legal commitments, the legitimate commitments made by the previous government. Otherwise, it will be defaulted.

“If it is BN who is defaulting, it is a different issue. But it is the Malaysian government in default and we won’t allow it to go into default,” Lim said.

The government has sought the advice of the Attorney general’s Chambers (AGC) who said the nation must honour its legal commitments.

At the same time, Lim said the Pakatan Harapan (PH) administration will not allow Malaysia to default as it will trigger a downgrade in international ratings.

“Of course (if we default, there will be) financial consequences. If (we) default (we) get automatic downgrade to ratings, not just (by) one level, probably more than that.

“We will honour this commitment, we won’t allow Malaysia to go into default and protect Malaysia’s international ratings and international recognition,” he said.


Category: Malaysia

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