Malaysian ringgit can recover once 1MDB issue resolved

Malaysian ringgit can recover once 1MDB issue resolved

Malaysia's central bank governor Zeti Akhtar Aziz said on Monday the ringgit - Asia's worst performing currency of the year so far - is expected to show some recovery once issues surrounding troubled state fund 1Malaysia Development Bhd ( 1MDB) are resolved.

1MDB has been the subject of multiple investigations, amid allegations of financial mismanagement and graft.

Prime Minister Najib Razak, chairs the fund's advisory board, has resisted calls for him to step down from government, but controversies continue to rage. 1MDB is seeking to reduce its US$11 billion (S$15.4 billion) debt by selling power and property assets.

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