Press Release No. 12/433

Press Release: IMF Managing Director Christine Lagarde Visits Malaysia, Meets Prime Minister Najib

November 14, 2012

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today in Kuala Lumpur at the conclusion of her visit to Malaysia:

“I am delighted to be here in Asia and to have the opportunity to visit Malaysia, my first visit since my appointment as Managing Director of the IMF. I have been greatly impressed by this country’s resilience, dynamism, and optimism about the future.

“I had the pleasure to meet Prime Minister and Minister of Finance Dato’ Sri Mohd Najib bin Tun Abdul Razak, Finance Minister II, Dato’ Seri Ahmad Husni Mohamad Hanadzlah, Bank Negara Malaysia Governor Zeti Akhtar Aziz, as well as other senior officials. I also met with Malaysia’s business leaders, including outstanding women leaders. And I spoke at the Global Public Lecture, hosted by the Malaysia Economic Association, on the topic of increasing regional economic cooperation in Asia.

“We had fruitful discussions with the Malaysian authorities on recent global economic developments, the challenges facing the region, and how economic policies can help Malaysia to respond to changing global economic conditions

“I congratulated Prime Minister Najib and his colleagues on their skillful and pragmatic economic management and continuing robust growth. Great credit is due also to Governor Zeti and the Bank Negara Malaysia. I am impressed by the government's long-term economic strategy—the Economic Transformation Program—and its vision of bringing Malaysia to advanced country status by 2020.

“The Malaysian authorities also recognize that policy initiatives in a number of areas can further enhance the quality and equity aspects of growth. Such reforms would focus on improving the business climate, enhancing competition, upgrading workers’ skills, and creating even more economic opportunities for all Malaysians.

“Finally, I also welcomed Malaysia’s support for the IMF, including for our governance reforms, and for strengthening the IMF’s resources, which will ensure that emerging Asia has a strong voice at the IMF and a stronger partner to help respond to future crises.

“I would like to express my great appreciation to the authorities and the people of Malaysia for the gracious hospitality extended to me during this visit. On behalf of the IMF, I look forward to our continued strong partnership.”