Bebel Without a Clause

Bebel Without a Clause

Saturday, December 24, 2011

Cubaan kelirukan rakyat Bukit Antarabangsa dengan Bank Dunia oleh Rafizi and the Gang

Semalam saya berkesempatan mendengar ceramah PKR di Bukit Antarabangsa. Sipnosis boleh layar ke blog Dr Raffick dan juga APA, dua top blogger dari Bukit.
Saya hanya ingin menyentuh hujahan Rafizi yang saya kira beliau mungkin cara tidak sengaja mahu mengelirukan pendengar-pendengar yang datan dengan isu yang di bawa oleh RR berkenaan pinjaman dari World Bank oleh TDM. Layar ke blog chedet untuk apa yang dimaksudkan oleh mantan PM berkenaan Bank Dunia yang memang sudah meminjam kepada Malaysia sejak 1958 lagi kerana faedah yang rendah. IMF bukan world bank tetap satu dana yang di terbitkan untuk menolong negara2 yang terkena tempias Asian Financial Crisis dalam tahun 1997. Untuk mengetahui lebih lanjut lagi boleh layar ke link (IMF) di bawah ini. Saya agak hairan mengapa isu ini dibangkitkan walhal ini satu isu yang sepatutnya di ungkit beberapa dekad yang lalu. Saya nampak ramai yang keliru menyamakan IMF dengan World Bank walhal kadar faedah adalh amat berbeza sekali dengan kaedah IMF ternyata lebih tinggi. World Bank memberi faedah yang lebih indah.
RR mungkin ingin memberi gambaran bahawa TDM juga meminjam duit bank Dunia untuk menangani masaalah krisis matawang. Walhal yang sebenarnya yang ternyata bahawa TDM menolak tawan IMF bukan Bank Dunia dimana faedah lebih rendah dan tiada syarat yang ketat.
Saya anggap isu ini hanya satu cubaan melepas batuk di tangga kerana banyak website dan internet references memberi pujian kepada Mahathir kerana dapat memberi satu peta jalan (Strategic Road Map) bagi negara2 membangun untuk 'soft land' sekiranya berlaku Currency Crisis lagi sekali. Isu ini telah menjadi satu kajian di negara barat satu ketika dulu dan memberi pujian kepada Tun kerana menjadi perintis dalam sudut pengurusan kewangan negara.

Coretan dari wikipedia berkenaan IMF bukan World Bank.

Before the crisis, Malaysia had a large current account deficit of 5% of its GDP. At the time, Malaysia was a popular investment destination, and this was reflected in KLSE activity which was regularly the most active stock exchange in the world (with turnover exceeding even markets with far higher capitalization like the New York Stock Exchange). Expectations at the time were that the growth rate would continue, propelling Malaysia to developed status by 2020, a government policy articulated in Wawasan 2020. At the start of 1997, the KLSE Composite index was above 1,200, the ringgit was trading above 2.50 to the dollar, and the overnight rate was below 7%.
In July 1997, within days of the Thai baht devaluation, the Malaysian ringgit was "attacked" by speculators. The overnight rate jumped from under 8% to over 40%. This led to rating downgrades and a general sell off on the stock and currency markets. By end of 1997, ratings had fallen many notches from investment grade to junk, the KLSE had lost more than 50% from above 1,200 to under 600, and the ringgit had lost 50% of its value, falling from above 2.50 to under 4.57 on (Jan 23, 1998) to the dollar. The then premier, Mahathir Mohammad imposed strict capital controls and introduced a 3.80 peg against the US dollar.
In 1998, the output of the real economy declined plunging the country into its first recession for many years. The construction sector contracted 23.5%, manufacturing shrunk 9% and the agriculture sector 5.9%. Overall, the country's gross domestic product plunged 6.2% in 1998. During that year, the ringgit plunged below 4.7 and the KLSE fell below 270 points. In September that year, various defensive measures were announced to overcome the crisis. The principal measure taken were to move the ringgit from a free float to a fixed exchange rate regime. Bank Negara fixed the ringgit at 3.8 to the dollar. Capital controls were imposed while aid offered from the IMF was refused. Various task force agencies were formed. The Corporate Debt Restructuring Committee dealt with corporate loans. Danaharta discounted and bought bad loans from banks to facilitate orderly asset realization. Danamodal recapitalized banks.
Growth then settled at a slower but more sustainable pace. The massive current account deficit became a fairly substantial surplus. Banks were better capitalized and NPLs were realised in an orderly way. Small banks were bought out by strong ones. A large number of PLCs were unable to regulate their financial affairs and were delisted. Compared to the 1997 current account, by 2005, Malaysia was estimated to have a US$14.06 billion surplus.[27] Asset values however, have not returned to their pre-crisis highs. In 2005 the last of the crisis measures were removed as the ringgit was taken off the fixed exchange system. But unlike the pre-crisis days, it did not appear to be a free float, but a managed float, like the Singapore dollar.

__________________________________________________________
Saya rasa isu yang dibawah hanyalah semata gerak langkah strategi politik untuk memburukkan TDM sebelum 9 Jan 2012 dimana Az telah berjanji atau amaran kot, akan terbitnya huruhara sekiranya Anwar di masukkan lokap lebih2 lagi kalau dia dipaksa berkongsi lokap dengan Khir Toyo (Siapa cepat dia dapat kunyit kot). Saya pasti tiada penipuan dari pihak Chedet tetapi hanya membukitkan bahawa RR dan PKR suka menipu diri sendiri.

SBA.

No comments:

Post a Comment

Blog Archive