KUALA LUMPUR, Malaysia Oct 9 (NNN-Bernama) � The government will honour 1Malaysia Development Bhd (IMDB)’s debt servicing obligation, amounting to RM211.3 million, which is due on Oct 18, says Finance Minister Lim Guan Eng.
He said the government’s move to pay promptly and not default on its debt obligation would maintain Malaysia’s international credit rating.
The government will not allow Malaysia to default and the debt is Malaysia’s to bear.
We will definitely pay our dues, honour our legal commitments, the legitimate commitments made by the previous government, “We will not default, he told reporters on the sidelines of the “Malaysia: A New Dawn Investors Conference”, here today.
Lim also said the government had sought the advice of the Attorney-General’s Chambers.
We will not allow Malaysia to default as it will trigger a downgrade in our international ratings, he added.
Source: NAM News Network