Malaysia’s PM proposes ‘Asian Monetary Fund’ to reduce dependence on US Dollar
Malaysian Prime Minister Datuk Seri Anwar Ibrahim has called for the country to stop relying on the US dollar for investment negotiations and instead use Malaysia’s currency and the currency of the countries involved.
Anwar also proposed the idea of the Asian Monetary Fund (AMF) at the Boao Forum in Hainan. The AMF was first proposed by Japan in 1997 during the early stages of the Asian financial crisis but failed to materialize.
Anwar is now revisiting the idea to strengthen the buffer against economic crises, particularly with the economic strength of China and Japan.
