SHAH ALAM, 6 Oct: The restoration of the value of the Malaysian Ringgit is expected to happen in a period of a year from now, said the former Bank Negara Director, Dr Rosli Yaakob.
He said that all efforts should be undertaken in a holistic and effective manner to restore the ringgit to a more comfortable level.
He said that the recovery would also heavily depend on the economic strengthening of Malaysia’s major trading partners such as the United States, the European Union and China.
“We have to improve economic management more effectively, reduce import and export, especially through sectors that can promote the exchange of foreign currency into the country.
“Only with this combination, the Malaysian Ringgit can breathe a sigh of relief but it will take a long time, about 10 to 12 months,” he told Selangor Kini.
He was contacted to comment on the view that the Ringgit will only recover with the resignation of Datuk Seri Najib Razak and the Finance Minister.
Rosli said that the political solution is still not enough despite the fact that political issues contributed to the fall of the ringgit.
“If he resigns and was replaced, it is not necessary that his successor will be better.
“So, it is the best move to ensure that all contributing factors are addressed with prudence by the government,” he said.
NS
