KUALA LUMPUR - Malaysia's Hope Fund has been exhausted as the government used all RM205 million it raised from the public to pay off some of 1MDB's debt, Finance Minister Lim Guan Eng said.
The fund drew contributions from Malaysians as well as businesses eager to help after the government said the country's debt was higher than previously disclosed by the previous administration. Debt at the troubled state fund 1Malaysia Development Berhad is currently about RM50.5 billion, he said. The government used the remaining RM61.7 million from the Hope Fund on Thursday to offset another interest payment on the same bond.
Lim is the most incompetent FM in Malaysian history
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