Malaysiakini - National debt: Najib sees new Moody's estimate as vindication (extracts):
Former prime minister Najib Abdul Razak today suggested that Moody's Investor Service's estimate that Malaysia's debt-to-GDP ratio stood at 50.8 percent proves that the Pakatan Harapan administration had misled the public.
Moody's was founded by John Moody in 1909 to produce manuals of statistics related to stocks and bonds and bond ratings.
I wonder what is the new FM doing in his portfolio when it's Mahathir who has gone to Japan to borrow money (to increase our debt?) and Daim telling judges to resign, deciding on SST, etc.
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our debt is 1 Trillion |
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our debt is 650 Billion, no no no, it's 1 Trillion, yes sir, it's definitely 1 Trillion as Tun said |
Former prime minister Najib Abdul Razak today suggested that Moody's Investor Service's estimate that Malaysia's debt-to-GDP ratio stood at 50.8 percent proves that the Pakatan Harapan administration had misled the public.
"The top international credit rating agency, Moody's, have independently assessed the Harapan government's claims of RM1 trillion debt and a self-declared debt-to-GDP ratio of 80.3 percent.
"Moody's have found those claims to be untrue, and have maintained our debt ratio to be the 50.8 percent declared by the BN government previously.
"You can mislead the people but you cannot mislead the experts," Najib wrote on Facebook today, shortly after Moody's latest report on Malaysia was posted.
The rating agency had maintained that "direct government debt" stood at 50.8 percent of GDP in 2017.
"Moody's have found those claims to be untrue, and have maintained our debt ratio to be the 50.8 percent declared by the BN government previously.
"You can mislead the people but you cannot mislead the experts," Najib wrote on Facebook today, shortly after Moody's latest report on Malaysia was posted.
The rating agency had maintained that "direct government debt" stood at 50.8 percent of GDP in 2017.
Well, it's obvious in this post, Moody is not Muhyiddin wakakaka. As to who is Moody, let's hear from Wikipedia:
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Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international financial research on bonds issued by commercial and government entities.
Moody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies.
The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default.
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international financial research on bonds issued by commercial and government entities.
Moody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies.
The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default.
Moody's Investors Service rates debt securities in several bond market segments. These include government, municipal and corporate bonds; managed investments such as money market funds and fixed-income funds; financial institutions including banks and non-bank finance companies; and asset classes in structured finance.
Moody's was founded by John Moody in 1909 to produce manuals of statistics related to stocks and bonds and bond ratings.
I wonder what is the new FM doing in his portfolio when it's Mahathir who has gone to Japan to borrow money (to increase our debt?) and Daim telling judges to resign, deciding on SST, etc.
What is the role of the FM?
Do we have money to build another-new Mahaton car?
Do we have money to build another-new Mahaton island at Middle Rocks?
[Mahathir built one about 40 years ago in the South China Sea NW of Labuan - after spending hundreds if not thousands of millions, I wonder what profit that island has brought for Malaysia?]
Is the new FM to be a puppet to take responsibility for the Japanese loans which had stung us before during Mahathir's previous premiership (1981 to 2003)? Remember that Anwar Ibrahim as once-Finance Minister was held responsible for the scandal of FOREX humongous loss.
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