Ringgit’s decline due to 1MDB shock and lack of competitiveness in Malaysia post-Asian financial crisis, says World Bank economist

A World Bank economist says the ringgit's weakness reflects Malaysia's loss of competitiveness since the 1998 Asian financial crisis, along with the 1MDB scandal. He noted that the Thai baht and South Korean won have outperformed the ringgit.

He also cited China's economic slowdown and recent rate increases as pressures.