26-08-2008
KUALA LUMPUR: The federal government’s domestic and foreign debts amounted to RM266.7 billion as at Dec 31, 2007, said Prime Minister Datuk Seri Abdullah Ahmad Badawi.
He said of the government’s total debts, domestic debt accounted for 92.7% or RM247.1 billion while foreign debt stood at 7.3% or RM19.6 billion.
“The low amount of foreign debt is in line with the government’s policy of reducing foreign borrowing which would then decrease the risk of foreign exchange and rely on loans from domestic sources,” Abdullah said in a written reply yesterday to Teo Nie Ching (Serdang-DAP) who wanted the finance minister to state the amount of money owed by and to the government as well as the main creditors and borrowers.
Abdullah, who is also Finance Minister, said the government’s creditors for projects included multilateral and bilateral institutions such as Bank Pembangunan Islam (IDB), Asian Development Bank (ADB), World Bank, and Japan Bank for International Cooperation (JBIC).
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