SHAH ALAM, 30 Sept: There is no other way to restore the value of the ringgit, which is weakening, apart from Datuk Seri Najib Razak resigning as the Finance Minister.
The Kelana Jaya MP, Wong Chen, said that the weak ringgit is due to political instability, so the cure would also be a political way.
He said that the best way is to hand over the post to a more qualified and competent leader.
“The terrible value of the ringgit is not economic, but political. If Najib resigns now, the ringgit will recover.
“Another way is ti ensure that the 1Malaysia Development Berhad (1MDB) issue is resolved as soon as possible with those guilty being punished according to the law.
“With these measures, only will the country’s economy restore investors’ confidence,” he told Selangor Kini.
He was asked to comment on the report by Bloomberg regarding investors’ expectations that Malaysia is among the six countries that should be lowered to junk status like Brazil.
Prior to this, the Governor of Bank Negara, Tan Sri Zeti Akhtar Aziz, also urged the Federal Government to act in dealing with the negative perception received by Malaysia.
Elaborating, Wong Chen said that if Najib remains adamant, then the situation will worsen in the next three months.
“All imported goods made for six months’ of stock, say March, has been imported and now it has to be imported again.
“But it has to be done with a higher currency rate. This will cause inflation,” he said.
NS
