Malaysia calls for international monetary cooperation mechanism

Malaysia calls for international monetary cooperation mechanism

5 days ago

NEW YORK: Malaysia has proposed for United Nations (UN) member countries to establish an international monetary cooperation mechanism to address various economic issues, including the rising global inflation.

Prime Minister Ismail Sabri Yaakob said such a mechanism was necessary, considering that in an interconnected world, the policies and decisions made by some countries can affect other countries too.

“For example, in tackling inflation that has become a worldwide phenomenon, the monetary policy and setting of interest rates by one country would also have an impact on other countries,” he said in a speech during the 77th United Nations General Assembly at the UN’s headquarters here.

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