NIBONG TEBAL: Economy Minister Rafizi Ramli has schooled the opposition over queries on the International Monetary Fund (IMF) loan, saying that only nations on the brink of bankruptcy seek such financial assistance.

"The IMF is a last-resort financial institution. You approach the IMF for a loan only after exhausting all other options and being unable to repay existing debts," he explained. 

"You can't simply go to the IMF for a loan. They will think you are crazy. Until and unless you are on the verge of bankruptcy, then there is no issue.

"Are we on the verge of bankruptcy? Are we unable to settle our loan?" he said during the Ceramah Perpaduan here late last night.

Yesterday marked the eighth day of campaigning for the Sungai Bakap by-election.

Rafizi also criticised the opposition for focusing on trivial matters instead of understanding financial policies. 

"The opposition should have paid attention in school rather than playing TikTok," he quipped.

This statement was in response to Perikatan Nasional chairman Tan Sri Muhyiddin Yassin's comments on Friday, where he questioned if the federal government's move to reduce subsidies was related to IMF borrowing. 

Muhyiddin asked if this policy change indicated a future IMF loan for Malaysia.

"I'm not accusing; I'm merely asking. Try to answer this. I want to know the answer," Muhyiddin said during Perikatan Nasional's Ceramah Mega for the Sungai Bakap by-election. 

The Sungai Bakap by-election, scheduled for July 6, will see a straight fight between Pakatan Harapan's Dr Joohari Ariffin and Perikatan Nasional's Abidin Ismail.

https://www.nst.com.my/news/politics/2024/06/1070117/rafizi-malaysia-nowhere-near-imf-loan