Recently, it was discovered that US$700 million had been transferred
from the government’s investment fund into the Prime Minister’s personal bank
account. The investment fund has not
done well and is massively in debt.
The
Wall Street Journal broke this story a couple of weeks ago. The Prime Minister is
trying to sue the Journal, yet he doesn’t deny the deposit to his account. Rather he gives the explanation that it was “a
gift” from a Gulf nation, for his party. That is
supposed to be OK. I heard on the radio today that the country does not have “an
economic crisis, but a problem caused by negative perception.” We are to change our perception.
After the story came out he fired the Attorney General and
removed several people from the Anti-Corruption Commission. The biggest
financial newspaper here was forced to temporarily stop publication. It was
reported in the paper today that a task force assigned to investigate the $700
million deposit was dissolved, then reformed minus the Anti-Corruption
people.
The local currency has fallen dramatically, to a 17 year
low (which makes it great for foreign tourists and lousy for us who are paid in Ringgit). This on top of a new 8% goods and services tax that was introduced earlier
this year.
This brand of democracy is basically one party rule, the popular opposition
leader having been locked away in jail on a fabricated sodomy charge. Sodomy charges, honestly. Only ethnic Malays can be prime minister, so
that narrows the field of suitable candidates.
Back to the "negative perception” problem... We do get the
impression we are told what to think and sometimes even what to wear—some locals
(Chinese) have recently been told to cover up when they entered government
buildings wearing shorts. They were “graciously”
offered cloth to cover their offensive legs.
In Azerbaijan we wouldn’t have dared make a post like this. Perhaps
we will be called out for this one…
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