Malaysia Downgrade - MOF Disappointed, But Not Surprised

Last week, Fitch Ratings downgraded Malaysia’s sovereign rating from A- to BBB+ with a stable outlook. This has a real fiscal impact on the country because a downgrade typically denotes a higher risk of default, which in turn means it will be more costly for Malaysia to borrow funds. So what does the Ministry of Finance think about this downgrade? We speak to Puan Zakiah Jaafar, Deputy Secretary-General of Policy at the Ministry of Finance, to find out.

Image Credit: Willy Barton / Shutterstock.com