RM125 Billion has flown, and the worst is yet to come

Wednesday, September 24, 2008

RM125 Billion has flown, and the worst is yet to come

"In 2008 already over RM125 billion has been withdrawn from the country by investors weary of a government that has failed to implement a single reform to ensure judicial independence and that continues to use draconian laws such as the ISA to detain its citizens without due process of law." - Anwar Ibrahim [Opp leader denies talk with PM - Malaysiakini 24/9]

Is that why the PM decided to hand over the Finance portfolio to Najib Razak? Perhaps. But Anwar must take some of the credit for the capital flight. All the talk about his democratic coup - about 916 and defectors from BN - has chipped away investors' confidence, too. We all know about the flaws of the Abdullah Administration (why do you think March 8 happened?) but more than half a year after the General Election, has Anwar's Pakatan Rakyat gone far beyond lip service? Read A Lot of Empty "PR" Talk So far by Mana-Mana, 24/9.

The world economy is already bad as it is, and we can expect more investors to pull out from Malaysia because of their own problems, at home and elsewhere. The worst is yet to come. And here we are!

I am glad that DSAI has decided to drop the deadline games [Anwar drops deadline for government takeover, The Star 24/9] and be more subtle with his coup attempt. I pray the court throws out the sodomy charge against him and let him the peace of mind to focus on being an effective Opposition leader. Malaysia needs one, especially now.