SINGAPORE (May 28): It has been another dramatic week in Malaysia. The new Pakatan Harapan (PH) government has revealed that the country’s total debt and liabilities have breached RM1 trillion ($336 billion). It has also come to light that the previous Barisan Nasional (BN) government had been bailing out the scandal-ridden 1Malaysia Development Bhd (1MDB), paying off nearly RM7 billion worth of its debts since April last year. In the Ministry of Finance’s 2017/18 Economic Report, total federal government debt was reported to be just over RM685 billion as at end-June 2017.

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