By Phnom Penh Post
Sept. 5, 2019
Malaysian Prime Minister Dr Mahathir Mohamad advised leaders of emerging economies on Tuesday to cherish their independence and not become indebted to other countries.
Speaking to The Post in an exclusive interview, he said: “Never borrow more than you can repay. It is very important. Don’t spend more than your means and if you have to borrow, make sure you can repay the loan.
“Once you are indebted to other countries, you are no longer independent. So value your independence.
“Even if your national development is slowed down, it is worthwhile because you don’t want to again be colonised by others – not directly, but indirectly through their influence over your economy,” he said.
Mahathir served as Malaysia’s prime minister for 22 years from 1981 to 2003 before stepping down.
In full
Sept. 5, 2019
Malaysian Prime Minister Dr Mahathir Mohamad advised leaders of emerging economies on Tuesday to cherish their independence and not become indebted to other countries.
Speaking to The Post in an exclusive interview, he said: “Never borrow more than you can repay. It is very important. Don’t spend more than your means and if you have to borrow, make sure you can repay the loan.
“Once you are indebted to other countries, you are no longer independent. So value your independence.
“Even if your national development is slowed down, it is worthwhile because you don’t want to again be colonised by others – not directly, but indirectly through their influence over your economy,” he said.
Mahathir served as Malaysia’s prime minister for 22 years from 1981 to 2003 before stepping down.
In full
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