Eric Se-To takes Madani gov’t to task for ringgit’s unimageable lows against greenback, Sing dollar

AN ex-aide of incarcerated former premier Datuk Seri Najib Razak seems to be having a gala time on social media ‘poking fun’ at the Madani government as the ringgit has plunged to RM4.80 against the greenback or a mere 1.8% away from falling to record low of RM4.8850 back in 1998 at the height of the Asian Financial Crisis.

Amid the backdrop of Economy Minister Rafizi Ramli needing hospitalisation for at least a fortnight more after having undergone a backbone surgery, former Barisan Nasional (BN) strategic communication deputy director Eric See-To took a swipe at Prime Minister Datuk Seri Anwar Ibrahim for refusing to address the fall of the ringgit.

“PMX refuses to comment on the ringgit’s value falling to its lowest level in the last 26 years against the US dollar (US$1 = RM4.79349) and its lowest level in history against the Singapore dollar (S$1 = RM3,56067) this morning (Feb 20),” he penned on his Facebook (FB) page under the pseudonym “Lim Sian See”.

In a video clip accompanying his post, Anwar who is also the Finance Minister had appeared to be evading questions posed by journalists with regard to the fall of the local currency by referring the matter to Bank Negara Malaysia (BNM) governor Datuk Shaik Abdul Rasheed Ghaffour.

Anwar was believed to be leaving the event venue after delivering a keynote address at the 15th International Conference on Islamic Economics & Finance (ICIEF) in Kuala Lumpur.

Commenting further on Anwar’s reluctance to address the ringgit’s 4.44% depreciation year-to-date (since Jan 1) and 8.14% throughout last year (2023), See-To ‘threw more punches’ at the way the Madani government manages the Malaysian economy in a separate but related FB post.

“This morning (Feb 20), PMX was reluctant to comment to the media fraternity as to why the ringgit has dropped to its lowest level. He said he has told BNM Governor to answer,” noted the prominent Barisan Nasional (BN) cybertrooper during Najib’s administration with a tinge of sarcasm.

“In fact, just a few months back, hasn’t he mentioned that the fall of the ringgit was not his fault? Why then are the journalists still asking him (harassing Anwar on the matter)? Fahmi (Communications Minister Fahmi Fadzil) should take strict action against these malicious journalists.”

Apart from Anwar, Se-To also seemed to train his gun on Rafizi form having attributed high government debts as one of the key reasons for the weak ringgit.

“But the Madani’s government is also borrowing and spending at the highest rate in history for two straight years – at around RM390 bil annually compared to consistent spending between RM220 bil and RM260 bil during Najib’s time,” justified the Bossku loyalist.

“I think Rafizi has understood that it’s much more difficult to care for the economy than to keep provoking, cursing and blaming Najib for years.” – Feb 21, 2024

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