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Malaysia: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1999: Issue 086
Language:
English
Publication Date:
14 Sep 1999
DOI:
https://doi.org/10.5089/9781451828306.002
ISBN:
9781451828306
ISSN:
1934-7685
Pages:
150
Keywords:
ISCR; CR; Malaysia; exchange rate; ringgit; federal government; bank; private sector; federal government budget; states expenditure responsibility; banking system; export elasticity; government task; investment program; Exchange rates; Inflation targeting; Exchange rate flexibility; Corporate sector; East Asia; Asia and Pacific; Global
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This Selected Issues paper analyzes the use of capital controls and evolution of the capital control regime in Malaysia. The paper highlights that following a period of strong downward pressures on the ringgit, the Malaysian authorities introduced on September 1, 1998 a wide range of capital controls along with pegging the exchange rate at RM 3.8 vis-à-vis the U.S. dollar. The paper provides a brief review of Malaysia’s approach to capital account liberalization prior to September 1998. It also reviews the circumstances surrounding the imposition of the controls in September 1998, and their impact.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund