Mahathir Is Cornered by His Currency Peg
Malaysian Prime Minister Mahathir Mohamad has rarely been at a loss for words about any perceived threat to his country's currency. In fact, he's infamous for his outrageous canards on the subject. In April, 1998, for example, in a BusinessWeek interview, he blamed a "Jewish conspiracy" for supposedly undermining the ringgit. But when Malaysia's central bank announced on Apr. 16 that foreign reserves had fallen 9%, or $2.7 billion, during the first three months of 2001, Mahathir was conspicuously discreet.
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