Government / Public Policy

2020 Budget: Gov't will honour loan commitments inherited from previous administration

KUALA LUMPUR: The government's commitment to repay all loan obligations inherited from the past administration has never wavered, said Finance Minister Lim Guan Eng.

He said the government had, in the case of 1Malaysia Development Bhd (1MDB) and SRC International, come up with RM2.4 billion to settle the 2019 financing cost and RM2.7 billion for the 2020 financing cost.

"In this respect, the government wishes to thank Malaysians for the RM203 million contributed to Tabung Harapan Malaysia.

"The collected fund will be used to pay back a portion of the loan,” he said.

Lim added that until July 2019, about RM1.45 billion in misappropriated funds had been returned by international authorities, including from the sale of luxury yacht Equanimity.

"The government will continue to regain all stolen funds and assets around the globe. This includes legal action against Goldman Sachs, including its 17 directors," he added.

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