Malaysia backs down over IMF

MARKET NEWS

KUALA LUMPUR -- Malaysia has bowed to pressure and accepted the International Monetary Fund’s role in an Asian currency swap plan that aims to prevent speculative attacks on currencies in the region.

Malaysia had previously been unwilling to sanction the involvement of the IMF in the scheme -- called the Chiang Mai initiative -- which revolves around the principle of linking member nations’ FX reserves.

But Japan sent senior financial diplomats to Malaysia last week in a bid to convince Malaysia

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: