said government guarantees or liabilities that have been committed or crystalised due to default by the principal borrowers, are not covered. “This does not give a correct or accurate picture of the government actual debt position."
PETALING JAYA: The World Bank Group’s present definition of government’s debts that only includes direct debts borrowings is inadequate, Finance Minister Lim Guan Eng says.
In a statement issued on Wednesday, he said government guarantees or liabilities that have been committed or crystalised due to default by the principal borrowers, are not covered.
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