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Monday 21 November 2016

The International Monetary Fund (IMF) has backed Malaysia's monetary stance amidst the ringgit’s volatility.

Floating the currency is the best line of defence because what is happening to the ringgit is beyond our control.
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Multi Management and Future Solutions Malaysia: The International Monetary Fund (IMF) has sponsored Malaysia's fiscal position in the midst of the ringgit's unpredictability.

This was passed on by IMF overseeing chief Christine Lagarde to Prime Minister Datuk Seri Najib Razak amid an intelligent session with Asia Pacific Economic Cooperation (APEC) pioneers here on Sunday.

"I (raised) the matter to her and she underpins what we do. Coasting the money is the best line of protection since what is going on to the ringgit is outside our ability to control," Najib told the Malaysian media toward the end of the two-day APEC Economic Leaders' Meeting.

Amid a meeting of the US-Asean Business Council, Najib said a Moody's Investors Service agent had let him know that the Malaysian economy is "not in a condition of tension."


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