Oil market's bounce masks persistent risk in Malaysian debt
Oil price still down more than 40 per cent since last June; cracks in political stability appearing
Jakarta
APRIL was a good month for Malaysia's economy, one of the most deeply exposed to foreign debt in Asia, as a bounce in oil prices boosted foreign reserves and its currency rose the most in three years. But behind the good news lurks lingering danger.
The energy exporter faces an imminent downgrade of its debt by ratings agency Fitch, just one reminder of the risks from oil and commodity prices that are still low by historical standards and from cracks in the political stability that once supported its solid growth.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Xi tells Blinken US, China should be 'partners, not rivals'
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing