Debt, deceit and delay: Malaysia's hidden fiscal crisis

BANK Negara Malaysia’s (BNM) latest update reveals the Federal Government’s direct debt has reached RM1.277 trillion, pushing the debt-to-GDP ratio to around 66% and breaching the 65% statutory ceiling.

Predictably, social media is lit up with politically charged claims. Many simplistically argue that “Najib’s debt was safer,” citing lower ratios then. But they miss the real question: how much of that debt was simply hidden?