KUALA LUMPUR, June 2 — Datuk Seri Najib Razak portrayed Finance Minister Lim Guan Eng as reckless in discussing Malaysia’s financial state, claiming the latter was using “guesstimation” to arrive at key figures that could move markets.

The former prime minister also accused the rival Pakatan Harapan of playing politics with the country’s debt in a bid to avoid delivering the promises of its election manifesto, which he previously derided as unachievable.

“Yesterday, the finance minister has continued with his inaccurate ‘guesstimates’ when he said that 1MDB’s current debt is RM50 billion — which he vaguely says ‘includes interest’ — a figure higher than the RM30 billion and RM38 billion that he had given in the past week,” Najib wrote of Facebook and referring to 1Malaysia Development Bhd.

“The elections are over. You have won and we have lost. The focus should now be to safeguard our country’s economic growth, jobs and financial stability — not playing politics with inflated ‘guesstimates’ to provide an excuse for not delivering on PH’s manifesto as per your promised timeline,” he added.

On the 1MDB’s debt, Najib told Lim to be forthright by disclosing that this was offset by assets worth up RM30 billion and that another RM14 billion was guaranteed by another foreign government.

Since he was sworn in as finance minister, Lim has made repeated disclosures regarding 1MDB including, but not limited to, the nearly RM7 billion his ministry paid directly to the state investment firm’s creditors last year alone.

Najib, who is under at least one corruption investigation linked to 1MDB, told PH to stop using the issue for political fodder and to instead ensure that its debt rationalisation could continue.

“Its previous asset values should be enhanced and monetised to pay down the debt,” he said.

The former PM also accused PH and Lim of misleading the public regarding the cost of the now-scrapped Singapore-Kuala Lumpur High Speed Rail (HSR) project.

The project was among the first to be dropped following the new government’s disclosure that the country was on the hook for at least RM1 trillion in liabilities.

To show accountability and transparency, Najib challenged Lim to release the feasibility and economic impact studies of the HSR to support the latter’s claim that the project would cost RM110 billion as opposed to the previous administration’s estimate of RM72 billion.

Najib then pointed that when BN had been in power, the World Bank and International Monetary Fund (IMF) predicted Malaysia would achieve high-income status in three years’ time, adding that PH must ensure that this target was not missed.   

https://www.malaymail.com/s/1637698/najib-accuses-finance-minister-of-guessing-malaysias-debt