Malaysia Proposes Automatic Loan Moratorium for the Poorest

Malaysia will provide an automatic moratorium on loan repayments for the poorest 40% of the population, Finance Minister Tengku Zafrul Abdul Aziz said in parliament, as he sought support for the passage of his $78 billion spending plan for 2021.

  • Individuals in the middle 40% (M40) may apply for moratorium without submitting relevant documents
  • Micro enterprises can also avail of automatic moratorium
  • The government will permit withdrawals of up to 10,000 ringgit for members whose incomes have been affected by the pandemic
    • EPF has inflows of about 80b ringgit
  • Aid to farmers expanded by 80m ringgit; allowance to fishermen raised to 250 ringgit from 200 ringgit

– Bloomberg

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