Resolve 1MDB issue first before ringgit can recover - Zeti

The issues lingering over the government-owned strategic investment firm, 1Malaysia Development Berhad (1MDB) needs to be resolved before the ringgit depreciation can recover and the economy continues to progress, said Bank Negara Governor, Tan Sri Zeti Akhtar Aziz.

“We do not need another scandal. We do need a political uncertainty. All issues pertaining to 1MDB should be resolved. It is only then we can see the ringgit rebound,” said Zeti who spoke at a panel discussion called “The state of the Malaysian Economy and Investment” at Sasana Kijang, here today.

She also stressed that Bank Negara has conducted its investigation into 1MDB which is currently being discussed with the Attorney-General.

“We have submitted our findings to the Attorney-General’s office. We are still in discussion with the Attorney-General. That is all I can reveal at this time,” said Zeti.

She also admitted that foreign sentiments towards the country’s situation are vital for the country’s economic growth.