Malaysia’s External Debt Increases To RM931.1 Billion

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Malaysia’s external debt, which stood at RM931.1 billion or 61.3 per cent of Gross Domestic Product (GDP) as at end-June this year.

“Close to one-third of the external debt is denominated in ringgit (31.7 per cent), mainly in the form of non-resident holdings of domestic debt securities and in ringgit deposits in domestic banks, which are not subject to valuation changes.

“The remaining external debt of RM636.1 billion (68.3 per cent) was denominated in foreign currency (FC) whereby the corporate sector accounted for slightly more than half of it and are largely subject to prudential and hedging requirements,” she said in a press conference when announcing the second quarter GDP data here today.

Compared to end-March this year the external debt (59.5 per cent of GDP) had increased, reflecting mainly the drawdown of interbank borrowings and inter-company loans.

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