The ringgit's poor performance can be attributed to the lack of competitiveness in Malaysia over the past 28 years, according to a World Bank economist. This was partly a consequence of the Malaysia Development Berhad (1MDB) financial scandal. Malaysia's lack of reform affected its economy in the long run, resulting in its GDP and exports falling.
The ringgit's poor performance can be attributed to the lack of competitiveness in Malaysia over the past 28 years, according to a World Bank economist. This was partly a consequence of the Malaysia Development Berhad ( 1MDB ) financial scandal .
Malaysia's lack of reform affected its economy in the long run, resulting in its GDP and exports falling.
Ringgit Competitiveness Malaysia World Bank Economist 1MDB Financial Scandal Reform GDP Exports
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AEON Bank gets BNM nod to become Malaysia’s first Islamic digital bankAdvocacy of digital tech will facilitate introduction of innovative products Chance for AEON Group Malaysia to provide more to loyal customers & partners AEON Bank (M) Bhd (formerly known as ACS Digital Bhd) has announced approval from the Bank Negara Malaysia (BNM) and the Ministry of Finance to commence its digital banking operations in...
Read more »
Hong Leong Bank predicts positive outlook for Malaysia in 2024HLB expects an uplift in the local stock exchange due to various factors, including FDI, tourism, and infrastructure spending.
Read more »
Bank Negara Malaysia Governor: Ringgit does not reflect positive prospects of Malaysian economyBank Negara Malaysia Governor, Datuk Abdul Rasheed Ghaffour, stated that the current level of the ringgit does not accurately represent the positive outlook of the Malaysian economy. He attributed the recent performance of the ringgit to external factors such as changing US interest rate expectations, geopolitical concerns, and uncertainty surrounding China's economic prospects. Abdul Rasheed emphasized that growth in 2024 will be driven by improved external demand and strong domestic spending.
Read more »
Malaysia Makes Significant Progress in Strengthening Human RightsMalaysia has repealed or revised 26 laws and regulations since 2018, demonstrating its commitment to human rights. Notable changes include the abolishment of the mandatory death penalty and the decriminalisation of attempted suicides.
Read more »
Malaysia Requires EV Charging Operators to Obtain License for Public ChargersCharge Point Operators (CPO) in Malaysia are required to apply for an Electric Vehicle Charging System (EVCS) license for public chargers. Failure to obtain a valid license may result in prosecution and fines. This requirement aims to ensure the safety and regulation of EV charging infrastructure in the country.
Read more »
Malaysia to Report on Human Rights Progress to UNThe Malaysian government is scheduled to report to the United Nations (UN) in Geneva on its progress and efforts to improve human rights in the country. The Universal Periodic Review (UPR) will consider reports from various stakeholders, including civil societies and NGOs.
Read more »