Malaysia-China: discussions on the project for an "Asian Monetary Fund" to reduce dependence on the dollar #AMF #IMF #Malaysia #China

"China and Malaysia are considering relaunching discussions regarding the establishment of an "Asian Monetary Fund" that will help the two countries reduce their dependence on the dollar in trade, an objective increasingly perceived as a priority by the countries of the region. Malaysian Prime Minister, Anwar Ibrahim, said he personally raised the issue last week during his visit to Beijing: “During the meeting with President Xi Jinping, he immediately said 'I refer to Anwar's proposal on the Asian Monetary Fund', and said he was willing to conduct discussions,” the prime minister said during a parliamentary hearing yesterday. Anwar, who has also assumed the role of foreign minister, said that "there is no reason for Malaysia to continue to depend on the dollar". The idea of ​​an "Asian Monetary Fund" dates back to the late XNUMXs, but the Prime Minister of Malaysia has proposed relaunching it on the basis of the new global economic balance: "With the strengthening of the economies of China, Japan and others, I think we should discuss this issue, and consider at least an Asian Monetary Fund and secondly, the use of our respective currencies,” the prime minister said."

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