‘Yes, honour all 1MDB debts, but not with our money’

YOURSAY | ‘The gov’t will have to honour its debts. Do we really have a choice?’

Gov't will honour all its debts, says Bank Negara governor

LifeFlier: Numbers from Finance Ministry as at June 2015: Federal government debt, RM627.5 billion, 54 percent of GDP (gross domestic product).

Numbers from Department of Statistics: 2014 household income RM4,585 (median) and RM6,141 (average). For a double income family, each couple's gross earning is estimated at RM3,071 (average), with assumption that kids are unlikely to have any incomes at age between 15 to 20.

Productive labour force with age of 15-64 is approximately 20 million, here assuming all are healthy, not lazy, have the luxury to retire at age of 64, none of them are jobless mat rempits, none are indulging in the con jobs of stealing money, none are so lucky to get enormous donations, and of course not all are handicapped with crutches.

With all these in mind, we will have RM31,350 federal government debts borne by every productive worker in Malaysia. You have to work without pay, in other words, feeding yourselves with roadside grass, and be the slaves for government for 10.2 months.

Now Bank Negara asks you to extend it a bit longer with an additional RM50 billion in the horizon. Great country!

Kit P: Indeed, why should all the citizens of Malaysia, including new-born babies and the elderly have to bear the burden of the misdeeds of an unaccountable elite, who even today, refuse to accept any responsibility over 1MDB's missing billions?

Kim Quek: New Bank Negara boss Muhammad Ibrahim, is it any of your business to announce that the government will settle all 1MDB debts?

You also said confidence will return once the 1MDB issue is resolved. What do you mean by “resolved”?

Finding the culprits, meting out punishment, applying remedial measures and recovering the lost billions or just liquidating 1MDB, government taking over all debts without fully addressing the cause of this abominable heist of public funds?

Muhammad, before you assume the role as spokesman for PM cum Finance Minister Najib Razak, how about telling us why Bank Negara has done nothing while billions after billions of 1MDB-linked illicit funds were freely laundered in and out of the country all these years?

Mushiro: This is indeed a redundant statement by the new Bank Negara governor. Of course, the government will have to honour its debts. Do we really have a choice?

And thank you, Muhammad, for confirming that the 1MDB issue is the cause of the sluggish market sentiments.

I thought that the Bank Negara governor's duty is to regulate the banks and enforce financial policies - why is the new governor worrying about 1MDB's debts and the government having to honour them?

Anonymous 706151436780066: Muhammad has proudly announced that the government will meet all its obligations.

He forgets that the government has no money except what it gets from the people through taxation. In short, we Malaysians have to bear the burden of paying for all the debts incurred by 1MDB.

Gaji Buta: Without a clear and complete explanation to the people of what happened to the 1MDB money, using rakyat's money to pay the debt is a sin.

Hermit: How nice it is for the new Bank Negara governor to promise that the billions allegedly stolen from 1MDB would be indemnified by the government.

It is sad to realise whilst insurance coverage for motor vehicle could be under the jurisdiction of Bank Negara but a government company embarking on billion-ringgit offshore investments could bypass its controls.

RM2.6 Billion Turkey Haram: Muhammad, it is very easy to say that the government will honour its debts. But do you ever stop to think who are footing the bills?

The people are willing to sacrifice their money if the debts were used for meaningful ventures like building schools, hospitals or bridges. But in the case of 1MDB's debts, the billions apparently disappeared into thin air.

Also it was alleged that billions went into the pockets of a few. Are you telling us that you are going to use taxpayers’ money to pay its debts?

Instead of trying to settle those sinful debts, it would be much appreciated if you could use the power vested in you to expose the bank transactions of 1MDB.

Yes, it is within your power to provide those details to the many countries investigating the matter.

And you must be reminded that Allah puts you there for a reason - to take care of the people's hard-earned money, and not the interests of a few crooks.

Spirit of Malaya: The new Bank Negara governor should pay the 1MDB debt using his own money. Hands off taxpayers’ funds.

Bloodymary: Hardly a month in office and Muhammad reveals himself to be just another BTN-ised Umno minion serving the rogue BN regime.

When you say "the government will honour its debts," what you actually mean is that the rakyat will be further burdened and milked for every sen they are worth - and their great-grandchildren too.

Beep!: Sure, we will pay 1MDB debts. How much have we got left in the kitty, Muhammad?

Can we dock Najib's salary (and that of the 1MDB board) for their role in this disaster? -Mkini