Govt Not Borrowing From IMF, Says Abdullah

KUALA TERENGGANU, June 14 (Bernama) — Datuk Seri Abdullah Ahmad Badawi today stressed
that Malaysia is not borrowing from the International Monetary Fund (IMF) or World Bank to
finance various mega projects in the development corridors.
The Prime Minister said the allegation was a lie and effort to thwart what the government was
“I am aware that the corridor development concept has been misinterpreted by certain quarters
for their political purpose.
“Some are spreading word that the government is cutting fuel subsidies, even borrowing hundreds
of billions of ringgit from the IMF and World Bank to fund various mega projects in the
development corridors,” he said at the launch of the East Coast Economic Region (ECER)
Development Council and ECER Incentive Package here.
“The government has and will not do so. All programmes carried out in the corridors are small and
medium-scale people-centred programmes like education and agricultures programmes.
“In fact, the large-scale infrastructure programmes, if any, are being reviewed by the Economic
Planning Unit to ensure only people-centred projects are to be implemented,” he said.
Speaking to reporters later when asked to elaborate on the allegation, Abdullah said: “People like
these do exist. To them, what the government is doing is never good. They always give incorrect
views, make assumptions and allegations. They are happy when the government’s efforts fail.”
However, he was sure the people were getting smarter in making assessment and would join the
government in realising the development projects.
Asked on foreign investments in the Ecer, Abdullah said that to date, foreign investments
especially from the Middle East totalled RM18 billion.