Experts Support Anwar Ibrahim’s Call for an Alternative to IMF in Asia

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Photo of Anwar Ibrahim from Suara Keadilan

Malaysia’s Prime Minister Anwar Ibrahim has proposed the establishment of an Asian Monetary Fund (AMF) as an alternative to the International Monetary Fund (IMF). This is done in a bid to reduce dependence on the US dollar during times of crisis. 

PM Anwar receives support for IMF alternative 

Economist Prof Dr Jomo Kwame Sundaram and analyst Pong Teng Siew have voiced their support for the idea, stating that it would provide Asian countries with a more viable option during financial crises. Pong argued that the IMF’s prescriptions often exacerbate rather than solve problems, and suggested that a non-neoliberal Asian alternative would be more reasonable. 

Our Prime Minister has been accused in the past of being an IMF ally, but this proposal suggests otherwise. The AMF would help countries avoid losing control of their resources to foreign ownership during crises. Anwar has suggested using the ringgit and renminbi in negotiations with China as part of this initiative.

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Photo of Anwar Ibrahim from Suara Keadilan

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