Anwar: Asean revives plans for regional monetary fund

Asean countries are reviving the idea of creating their own monetary fund, said Prime Minister Anwar Ibrahim.
He said there is a need for financial transformation in Asean and the regional group is taking steps in this direction.
'One example is the Chiang Mai Initiative, where central banks in the region...

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Star

11 minutes ago

• The Star

PM Anwar approval rating rises to 55% on the back of economic, political factors, says Merdeka Center

PETALING JAYA: Prime Minister Datuk Seri Anwar Ibrahim has a positive approval rating of 55% according to a recent survey conducted by research firm Merdeka Center. It attributed this to several factors such as Malaysians feeling the country is on steadier ground, easing political turbulence and with Anwar now leading a government with a two-thirds parliamentary majority. 'Institutional reforms like the revived Parliamentary Services Act 2025 also signal a return to principled governance. 'In terms of the economy, government data indicates that inflation has cooled to just 1.4% in March 2025, marking a three-year low, with economic growth hitting 4.4% in the first quarter. 'The minimum wage hike to RM1,700, combined with festive cash aid for civil servants and ongoing fuel subsidies, has helped ease some public frustration over the cost of living,' it said in a statement on Monday (June 23). The survey, conducted in May, asked a total of 1,208 registered voters comprising Malays at 52%, Chinese (29%), Indians (7%), Muslim Bumiputra (6%), and Non-Muslim Bumiputra from Sabah and Sarawak (6%). Respondents were selected based on a random stratified sampling along age group, ethnicity, gender and state constituency. The Merdeka Center said Anwar had enhanced Malaysia's global profile, referencing how the Prime Minister had hosted China President Xi Jinping and also Malaysia chairing Asean 2025. 'New investment deals, trade cooperation and leadership in Global South initiatives have bolstered his image at home. 'Still, bread-and-butter issues remain what moves the Malaysian public most,' it said, adding that the economy remains the public's top concern. It said the federal government's rating stands at 50% as of May, compared to being only 40% in June last year. 'Dissatisfaction towards the federal government stands at 48% compared to 58% a year ago. The tight spread between positives and negatives is largely driven by persistent concerns about cost-of-living pressures and anxiety over subsidy cuts slated to take place,' it said. The same survey revealed that 50% of voters felt the country was headed in the wrong direction, compared to 61% a year ago. The number of voters who felt the country is heading in the right direction rose to 43% compared to being at 29% in June last year. 'Major reasons for the wrong direction remain focused on the trajectory of the national economy and the performance of the current administration,' it said.

New Straits Times

17 minutes ago

• New Straits Times

Anwar congratulates South Korea's new president, reaffirms ties

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has congratulated South Korea's newly elected President Lee Jae Myung, expressing confidence in his leadership as the country enters a new chapter. In a Facebook post, Anwar said he spoke with Lee this morning to convey his well wishes following the Democratic Party's victory in South Korea's presidential election. "I expressed full confidence in his leadership as the country enters a new chapter," he said. Anwar said both leaders reaffirmed their commitment to strengthening the Malaysia–South Korea Strategic Partnership, which was elevated during his official visit to Seoul in November last year. He said ongoing cooperation between the two countries would continue to focus on four key areas — peace and security, defence, economic ties, and people-to-people exchanges through education and tourism — alongside broader regional and global collaboration. "South Korea remains Malaysia's eighth-largest trading partner, with bilateral trade exceeding US$20 billion for three consecutive years. "I reiterated Malaysia's commitment to concluding the Malaysia–Korea Free Trade Agreement (MKFTA) within this year." Anwar also extended an invitation to Lee to attend the 47th Asean Summit and the Asean–Republic of Korea Summit, both scheduled to be held in Kuala Lumpur this October. "I will attend the APEC Summit in Gyeongju this November and look forward to welcoming him on an official visit to Malaysia ahead of the Asean meetings," he said.

The Sun

an hour ago

• The Sun

Anwar's approval rises to 55% amid economic stability

KUALA LUMPUR: A survey by Merdeka Center, an independent organisation focused on public opinion research and socio-economic analysis, found that a majority of Malaysian voters gave Prime Minister Datuk Seri Anwar Ibrahim a positive approval rating of 55 per cent in May this year compared with 43 per cent in June last year. The centre said the survey on 1,208 registered voters showed that Malaysians are beginning to feel that the country is finally on steadier ground with political turbulence easing and Anwar now leading a government with a two-thirds parliamentary majority. 'Institutional reforms like the revived Parliamentary Services Act 2025 also signal a return to principled governance,' it said in a statement today. It said public frustration over the cost of living has also been mitigated by the government's minimum wage increase to RM1,700 combined with festive cash aid for civil servants and ongoing fuel subsidies amid inflation at a three-year low of 1.4 per cent in March 2025 and economic growth hitting 4.4 per cent in the first quarter. 'While the survey continues to show that the public's top concerns remain the economy, the absence of price shocks despite the withdrawal of diesel fuel subsidies in 2024 has helped ease sentiments,' it said. The centre said Anwar has also enhanced Malaysia's global profile by hosting China's President Xi Jinping and chairing ASEAN in 2025 which gave him a diplomatic spotlight. 'New investment deals, trade cooperation and leadership in Global South initiatives have bolstered his image at home,' it said. At the same time, the centre said the federal government's rating also improved to 50 per cent in May 2025 compared with 40 per cent in June 2024. It said dissatisfaction towards the federal government eased to 48 per cent compared with 58 per cent a year ago. 'The tight spread between positives and negatives are largely driven by persistent concerns about cost of living pressures and some anxiety over subsidy cuts slated to take place in the near future,' it said. It said the number of surveyed voters who think the country is headed in the wrong direction declined to 50 per cent compared with 61 per cent a year ago while the number of voters thinking the country is heading in the right direction improved to 43 per cent compared with 29 per cent in June 2024. 'The major reasons for the wrong direction remain focused on the trajectory of the national economy and the performance of the current administration,' it said. The survey was carried out between May 12 and May 23 to gauge voters' perceptions of current developments as the MADANI administration marks the midpoint of its term in office. Respondents who comprised 52 per cent Malay, 29 per cent Chinese, seven per cent Indian, six per cent Muslim Bumiputra and six per cent Non-Muslim Bumiputra from Sabah and Sarawak, reflective of the national electoral profile, were interviewed via fixed line and mobile telephones.