Finance Ministry: Malaysia’s inclusion in US Treasury list highlights country’s economic strength | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

Finance Ministry: Malaysia’s inclusion in US Treasury list highlights country’s economic strength

Finance Minister Lim Guan Eng says while the US Treasury has included Malaysia into its expanded Monitoring List of Potential Currency Manipulator, the report does not name Malaysia as a currency manipulator. — Picture by Firdaus Latif

“In fact, the inclusion of Malaysia into the US Treasury’s Monitoring List along with other major trading economies like Germany, South Korea, Japan and Singapore only highlights the strength of the economy and the role played by Malaysia in the global economy,” he said in a statement here. The US Treasury’s three criteria for determining whether a country can be labelled a currency manipulator previously were a significant trade surplus with the United States, a sizeable current account surplus and evidence of one-sided, persistent currency intervention.

“Secondly, Malaysia has a healthy current account surplus of more than 2 per cent of its Gross Domestic Product ,” he said. Lim said Malaysia’s inclusion into the US Treasury’s Monitoring List has no impact on the Malaysian economy, with no penalties or sanctions imposed on Malaysia as the country did not fulfill the third requirement ― evidence of one-sided, persistent currency intervention.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance Ministry: Putrajaya negotiating compensation for cancelled RM9.4b pipeline project | Malay MailKUALA LUMPUR, May 25 ― The Malaysian government is now negotiating with China-based contractors on the total compensation amount to be paid by Suria Strategic Energy Resources Sdn Bhd (SSER), following the cancellation of the RM9.4 billion pipeline. The Ministry of Finance (MoF) said the...
Source: malaymail - 🏆 1. / 86 Read more »