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Apr 05, 2023 06:41 PM
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Malaysia, China to Discuss ‘Asian Fund’ to Cut U.S. Dollar Dependency

Malaysia, China to Discuss ‘Asian Fund’ to Cut U.S. Dollar Dependency. Photo: Rao Aimin/Xinhua/Getty Image
Malaysia, China to Discuss ‘Asian Fund’ to Cut U.S. Dollar Dependency. Photo: Rao Aimin/Xinhua/Getty Image

(Bloomberg) — China is open to talks with Malaysia on forming an Asian Monetary Fund, said Prime Minister Anwar Ibrahim, reviving a decades old proposal to reduce reliance on the dollar.

Anwar said he proposed setting up the fund at the Boao forum in Hainan last week, stressing the need to reduce reliance on the dollar or the International Monetary Fund.

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