Economics
New Malaysia Finance Minister Must Clear Graft Case Against Him
- Finance ministry will report directly to Mahathir for now
- Investors are seeking policy direction on fiscal plans
Malaysia's Mahathir Returns to Power at 92
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Malaysia’s new finance minister will need to be cleared of corruption charges before he can take office, with Prime Minister Mahathir Mohamad taking the helm at the ministry for the time being.
While 92-year-old Mahathir moved quickly to name top cabinet posts at the weekend amid heightened investor concern about the policy outlook, his pick for finance minister, Lim Guan Eng, can’t be sworn in until a pending court case is cleared, the prime minister told reporters on Monday. Until then the ministry will report directly to Mahathir, who will be supported by an economic advisory council -- which includes some old names, like former central bank Governor Zeti Akhtar Aziz.