Friday, 23 June 2017

Malaysia. Issues

Is the smash hit from Julia Michaels. Malaysia has some serious issues thanks to the 1MDB scandal.

One fears that what is happening now is just half way through the iceberg.

Read below, on the rating issues that could come haunt us. The report is from CNBC :

Malaysia's sovereign rating may be in trouble as an ongoing corruption saga threatens to destabilize the nation's fiscal position, S&P Global Ratings has warned.

In a Thursday statement that affirmed the Southeast Asian country's A-/A-2 foreign currency and A/A-1 local currency ratings, S&P said Kuala Lumpur's outlook remains "stable" but noted that the scandal surrounding state investment fund 1Malaysia Development Berhad (1MDB) and upcoming elections could challenge ratings in the near-to-medium term.

"Those challenges could manifest themselves via a rise in the cost of refinancing Malaysia's sizable gross external financing needs, or via nonresident outflows from Malaysia's deep local-currency government bond market," S&P said.

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