IMF: No imminent need to unpeg ringgit

THERE is “no imminent need” for Malaysia to unpeg the ringgit, an International Monetary Fund (IMF) official said yesterday. But he urged the authorities to study it, to allow greater policy flexibility. 

IMF Division 1 chief (Asia and Pacific Department) Dr Luis M. Valdivieso said although flexible exchange rates were advocated by the fund, “it is not an end in itself, and should be part of a framework incorporating fiscal and monetary policies”.