The former prime minister says this is 'the wrong time' to take over the government. FMTNews TunM Covid19
KUALA LUMPUR: Dr Mahathir Mohamad, the former prime minister who steered Malaysia’s recovery from the 1997 Asian financial crisis, expects the Covid-19 pandemic to hit the global economy even harder.
Mahathir joins other world leaders in warning that the virus impact may be worse than past periods of upheaval. European Central Bank president Christine Lagarde this month warned the economic fallout could be similar to the 2008 global financial crisis, while Singapore Prime Minister Lee Hsien Loong said it might be worse.
Mahathir, 94, is the country’s longest-serving leader, serving as prime minister for about a quarter-century in two stints. He was the architect of Malaysia’s capital controls in 1998, which were widely panned at the time. International Monetary Fund officials later acknowledged that the measures put Malaysia ahead of the curve.“Investor confidence is very low not only for Malaysia, it’s for the whole world,” he said in the interview at Putrajaya.
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