The risk on Malaysian debt has increased, with the credit default swap (CDS) rising to a one-year high amid concerns on the country’s macroeconomic outlook, The Star Online reports. The CDS of the five-year ringgit bond – an indication of the strength of the government debt papers – was at 106 basis points (bps) at the time of writing. It has steadily gone up since January this year. Malaysian Finance Minister Lim Guan Eng has detailed how the new Malaysia government discovered that federal debt reached RM1 trillion (S$337 billion), nearly 60 per cent higher than what was reported under ousted-prime minister Najib Razak. Malaysia has set up a fund for members of the public to donate cash to help the new government repay its hefty national debt. Najib, who is banned from leaving the country, has denied allegations of any wrongdoing.