Malaymail-Mar 14

The government still needs to cover a shortfall of RM17 billion to repay the remaining balance in principal and interest of 1Malaysia Development Bhd’s (1MDB) debts totalling RM38.8 billion for the 2023 to 2039 period, said Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz today.   He said the government had repaid RM13.31 billion of 1MDB’s loans and interest through the ministry’s Assets Recovery Trust Account. “At the same time, the trust account still has a balance of RM15.76 billion and (this) is not sufficient to settle all 1MDB’s principal loans,” he said when winding up the debate on the motion of thanks for the Royal Address for the Ministry of Finance at the Dewan Rakyat today. Tengku Zafrul said the government will receive settlement funds of RM515 million from AmBank as well as US$954 million (RM4 billion) from Goldman Sachs. “This means that the government still have to cover the shortfall of RM17 billion to repay the principal loan and interest of 1MDB amounting to RM38.8 billion for 2023 to 2039,” he added. Tengku Zafrul said public funds had been used and will still need to be used to settle 1MDB debts, whether in terms of direct assistance or through asset recoveries. Read more at: https://www.malaymail.com/news/malaysia/2022/03/14/malaysian-govt-still-needs-to-cover-rm17b-shortfall-to-repay-1mdb-debts-say/2047400