KUALA LUMPUR: The federal government’s domestic and foreign debts amounted to RM266.7 billion as at Dec 31, 2007, said Prime Minister Datuk Seri Abdullah Ahmad Badawi.
He said of the government’s total debts, domestic debt accounted for 92.7% or RM247.1 billion while foreign debt stood at 7.3% or RM19.6 billion.
“The low amount of foreign debt is in line with the government’s policy of reducing foreign borrowing which would then decrease the risk of foreign exchange and rely on loans from domestic sources,” Abdullah said in a written reply yesterday to Teo Nie Ching (Serdang-DAP) who wanted the finance minister to state the amount of money owed by and to the government as well as the main creditors and borrowers.
Abdullah, who is also Finance Minister, said the government’s creditors for projects included multilateral and bilateral institutions such as Bank Pembangunan Islam (IDB), Asian Development Bank (ADB), World Bank, and Japan Bank for International Cooperation (JBIC).
This article is taken from “The Edge Daily”.
[The Star] Government’s external debt only RM19.6bil, says Pak Lah
THE Federal Government’s external debt is only RM19.6bil or 7.3% of the total debt as of Dec 31 last year, Prime Minister Datuk Seri Abdullah Ahmad Badawi said.
He added that the total debt incurred by the Government as of December was RM266.7bil, of which the internal debt amounted to RM247.1bil.
“The Government’s small external debt are in line with its policy to reduce overseas debts and cutting down foreign exchange risks.
“There is more effort to give priority to seeking loans from domestic sources,” Abdullah said in a written reply to Teo Nie Ching (DAP – Serdang).
Abdullah, who is also Finance Minister, said the financial institutions, which provided loans to the Government were the Islamic Development Bank, Asian Development Bank, World Bank and Japan Bank for International Cooperation.
He said the Government also gave out loans to government-linked companies, state governments, statutory bodies, local authorities, cooperatives and other agencies.
“As of Dec 31, 2007, these agencies owed the Government RM50.8bil,” he added.
This article is taken from “The Star” newspaper.