Weaker ringgit shows world losing confidence in Malaysia, says Anwar

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PETALING JAYA: The ringgit’s dissipating value has shown that the world has lost confidence in Malaysia, opposition leader Anwar Ibrahim said today.

In a Facebook post, Anwar said short-term solutions and quick fixes by the government were not enough.

“We need leadership that must first inspire the confidence of the people before we can dream of inspiring foreign confidence and then investment.

“A proper plan for a proper recovery requires complex thinking and an appreciation for the complexity of contemporary economics,” he said.

The Port Dickson MP, who is a former finance minister, explained that Malaysians were trapped in a cycle where the people work harder and make less while the price of basic needs has risen exponentially.

“I compel the government to give the rakyat a long-term solution that can inspire the confidence we all deserve.

“The people’s work is paramount to bringing this nation back and you, the people, deserve just reward for your labour,” the PKR president said.

The ringgit weakened past RM4.40 to the US dollar last week for the first time since the onset of the Covid-19 pandemic, but made a slight recovery to RM4.38 on Friday.

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