Mahathir was right, says IMF

PUTRAJAYA: The International Monetary Fund (IMF) said Malaysia’s approach to peg the ringgit in dealing with the Asian financial crisis was the correct move. 

“With hindsight, we have to recognise the good performance of the economy. Mahathir was right,” said the fund’s managing director Horst Kohler, referring to the decision in September 1998 by Prime Minister Datuk Seri Dr Mahathir Mohamad in the aftermath of the currency crash.