Risk of Malaysia Default “Minimal” – PM Najib

Even in the face of growing debt levels, Malaysia is confident that its fiscal house is in order.

“Most of our debts are domestic and essentially longer term, so the risk of defaulting is quite minimal,” said the Malaysian Prime Minister Najib Razak in an exclusive interview with CNBC’s Martin Soong in Kuala Lumpur Thursday.

Malaysia’s government debt stands at 53 percent of gross domestic product, while its household debt is among Asia’s highest. The country is trying to rein in its debt, announcing earlier this month that it will increase fuel prices for the first time since December 2010.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.