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My fellow Malaysian, do you know how much your national debts?

This below statement I pluck from Bank Negara website. (

In monetary statistics published by Bank Negara Malaysia, currency and deposits by non-residents with banks is classified as part of external liability of the banking system, and not external debt. With effect from 30 September 2003, the IMF SDDS has now classified currency and deposits by non-residents (for all maturities) as external debt. External debt for Malaysia, incorporating this new component, would amount to RM 260.93 billion (USD73.26 billion) as at end June 2009. Excluding currency and deposits of non-residents, total external debt amounted to RM233.30 billion (USD65.50 billion).

Through my quick computation, every single Malaysian owes foreign countries and institutions for RM 8973.

My close family in Malaysia still has 8 members, meaning my family’s foreign debt is amounted to RM 71,784.

Wait a minute, how much total debt inclusive both foreign and domestic debt owes by each Malaysian (excluding our private borrowing)?

The whooping number is RM 12912 per person !! In absolute figure, Malaysia national debt is RM 335,717,000,000 OR RM 335.717 billion.

Are we able to repay our national debt and be debt-free as China, Taiwan, Hong Kong, Singapore and Brunei? The answer is NEVER.

Based on last year (2008) statistical data released, our GDP is RM 28411 per capita. Let say everyone can save 1/3 income for the purpose of paying national debt, the amount saved is RM 9470 per year.

Every Malaysian from infant to old folk has to work 1.3 years to pay the national debt. How about your private debt for car, house and others?

Latest statistics, Government debt stood at RM362bil last year, or 54% of the GDP.

Who stole my cheese?

The long list including Bank Bumi scandal, forex speculation losses, Daim carted away RM1 billion cash reserves, PKFZ scandal, 5% project kickback given to cabinet members, French submarines and Russian MIG jet fighters purchase a.k.a. Altanthuya scandal, etc.

If you and your children wanted to be debt-free citizens, you shall emigrate to Singapore, China, Taiwan and Brunei, but never to America, another country riddled with a huge debt.

The comment board with Facebook account.
lee says:

brunei is about the only debt free country you pointed out, as is china.

japan for one is most certainly in debt … in fact their economy has been sluggish from the 90s and hasn’t even recovered properly since!

debt is not a bad idea. first and foremost you need to understand. we are borrowing in USD. USD is going down. so if we borrow 65b USD today that’s 213b RM.

Tell me, what happens when the USD goes down? We spend less RM to pay the debt off. It is a winning situation to hold debt in USD, unless you’re the USA where you have to deal with hyperinflation. If you’re a foreign country and your debt agreements are in USD or GBP or Yen, you’re in luck.

Youtube search Max Keiser, Peter Schiff, Ron Paul, Marc Faber and Jim Rogers to see what’s going on with the US economy right now. <<< incidentally we are 15th.


admin says:

China and Singapore foreign reserves are much higher than national debts, therefore their citizens are debt-free technically.

Exchange rate is a risk, you are not always in the winning side. How about USD appreciated against ringgit?

Reasonable debt is not an issue if you spend the money wisely. The problem with Bolehland is those borrowed money mostly is used for non-productive white elephant and crony projects.