KUCHING: Federation of Chinese Associations of Sarawak president Datuk Richard Wee said although he likes the idea of Sarawak producing its own currency, it is a difficult issue to navigate.
He said this was because it involved many sensitive and legislative issues to be considered.
“Personally it is a noble idea and from the standpoint of Sarawak, we are certainly in a stronger financial position compared to the rest of the other states in Malaysia and it is unfortunate that Sarawak would be impacted negatively when it is being consolidated into the overall nation’s financial position.
“The same applies to the economic rating of the financial standing by the international rating agencies.
“However, I do not think that there is any nation that has different currencies within their own country,” he told when contacted by New Sarawak Tribune.
He also said that apart from the issue concerning only one authority in a country that is allowed to issue their currency, the closest example would be European Union (EU) where different countries can still opt to maintain their currency instead of the Euro.
“But that comes under the issue of sovereignty. Therefore, as much as I like the idea of our own currency, I think it is a difficult issue to navigate as it involves many sensitive and legislative issues to be considered,” he said.
He said this in response to Works Minister Datuk Seri Alexander Nanta Linggi’s opinion on the possibility of Sarawak producing its own currency considering the unpredictable economic situation in the country.
