Fitch Group warns of higher Covid-19 outbreak risks in Malaysia due to political upheaval
Tuesday, 25 Feb 2020 12:19 PM MYTFitch Solutions believes that the political instability in the country could be a long-lasting phenomenon. — Picture by Choo Choy May
It said the Pakatan Harapan government was supposed to announce a stimulus package in March in response to the health and economic risks posed by the Covid-19 outbreak. “Most importantly, the ability to implement sensitive but much-needed reforms to the country’s affirmative action policies, needed to correct inefficiencies and reverse a heavy outflow of talented individuals from ethnic minorities to especially neighbouring Singapore, will be heavily curtailed,” it said.
“Our core view is for the formation of a new government to proceed, but in either case, the country is left without much needed leadership amid a slowing economy that must deal with the global outbreak of Covid-19,” it said. It said there are two main scenarios that could play out in the immediate future of Malaysia, one was that a new coalition, Perikatan Nasional , forms a new government with Dr Mahathir as the prime minister or Parliament is dissolved and snap elections is called.
“In particular, we highlight the risks of mass demonstrations by mostly minorities against such a development,” it said, adding that Anwar and those aligned to him would likely encourage such actions.
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