The International Monetary Fund or the IMF will not recognize the measures of Malaysia that are somewhat unorthodox that were took by the country during the financial crisis of Asia from the year 1997 to 1998. The measures were taken up by Malaysia to insulate the economy and ringgit against further approximate attacks done by the corrupt hedge funds and also of the speculators of Malaysia’s currency.

Criticisms have been faced by Malaysia from western governments, IMF, and agencies for imposing controls over capitals. But every country across the world has the idea now that those measures taken up by them helped to recover the economy within a short period of time. Prime Minister of Malaysia said that Christine Lagarde, IMF chief has the idea about the relations they had between them earlier and she is also aware that the situation is not the same now. Malaysia went to manage the measures on its own in the process that have protected their political sovereignty. It is not similar like Indonesia which was forced to accept the financial aid from the International Monetary Fund and that led to the dismissal of Suharto, the then president.

The evidence of the recognition have been found out by the interest that the IMF, a Washington based organization, wants to know about the things which the government is doing currently so that the country can be rehabilitated and to fight back corruption with the help of anti-corruption strategies. The IMF chief is also very much interested to rehabilitate the country which includes all the anti-corruption strategies and it will take longer for them to decide on the discussion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here