PUTRAJAYA, July 2 – Prime Minister Datuk Seri Anwar Ibrahim addressed the recent decline in the value of the ringgit, stating that it is primarily influenced by the policies of the United States (US) and not due to the absence of a full-time Finance Minister in Malaysia. During a press briefing after the key handing over of the Malaysian Civil Servant Housing (PPAM) Madani Dalur Precinct 18, Anwar highlighted that international factors play a significant role in shaping the value of the ringgit.
He urged individuals to refer to economic and financial reports rather than relying on alternative sources, referring to a proposal made by Mohd Syahir Che Sulaiman, the Assistant Secretary-General of Central Pas, who suggested the need for a competent and full-time Finance Minister dedicated to the country’s affairs. Anwar, who also holds the position of Minister of Finance, emphasized that the ringgit has experienced depreciation against the US Dollar and other currencies over the past six months.
Reaching a level of RM4.60/USD. If not properly managed, it is anticipated to further decline to RM5.00/USD. In response to the situation, Deputy Minister of Finance I, Datuk Seri Ahmad Maslan, expressed hope that the pressure on the ringgit would ease once the US debt ceiling issue is resolved promptly. International media reports have highlighted the ongoing challenges faced by the US in resolving the debt ceiling issue, with US President Joe Biden affirming his administration’s commitment to address the matter before the upcoming Tuesday.
Anwar Ibrahim’s statement underscores the influence of external factors on the ringgit’s performance, emphasizing the need to consider broader economic dynamics in assessing currency fluctuations. As the government remains vigilant and works to mitigate the impact, Malaysia’s economic resilience will play a crucial role in navigating these challenging times.
