Minister of Finance: Comprehensive multilateral action is crucial to deal with the global debt crisis | Malaysia


Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz speaks at Dewan Rakyat, Kuala Lumpur, March 14, 2022. – Bernama pic

KUALA LUMPUR, April 23 – Thorough and comprehensive multilateral action is needed to address the worsening global debt crisis, Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz has said.

“While attending the 2022 International Monetary Fund (IMF)/World Bank Spring Meetings in Washington, USA, I was invited to provide my views and suggestions to the 105th meeting of the Committee development of finance ministers.

“During the discussion, I had expressed my views on some of the latest challenges that have hampered global economic recovery this year, and I shared the view that in the short term, thorough and comprehensive multilateral action is needed to deal with the worsening debt crisis,” he said in a Facebook post today.

Tengku Zafrul added that in addition to being the representative of Malaysia, he had also been tasked with representing countries such as Brunei, Fiji, Indonesia, Laos, Myanmar, Nepal, Singapore, Thailand, Tonga and Vietnam for the meeting.

The Minister said at the meeting that he had also highlighted that rising supply chain disruptions and inflation, as well as continued uncertainty due to the new variant of Covid-19, could hamper the global economic recovery.

“I had also underlined that in the future, digitalization will be a key driver of the agenda for green, sustainable and inclusive development,” he said.

He said the development committee had discussed issues related to digitalization and development, ensuring that loans from governments around the world play a role in macroeconomic development and stability, as well as a number of things about Covid-19 crisis response operations updates.

Meanwhile, on another development, Tengku Zafrul said that Amazon Web Services (AWS) has expressed interest in investing in Malaysia.

In a post on Twitter, he said AWS is committed to investing in the development of regional data centers as well as programs related to start-ups and venture capital.

“They had informed me of their intentions during my visit to Washington, during which I was also briefed by Shannon Kellogg, who leads AWS’ public policy division, on the development of their new headquarters, HQ2. “, he added. — Bernama


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