May 24, 2018 / 9:56 AM / 25 days ago

Malaysian minister confirms, Khazanah funds used for 1MDB payments

KUALA LUMPUR (Reuters) - Malaysia’s finance minister on Thursday confirmed reports that funds from deals with the central bank and sovereign wealth fund Khazanah were used by the previous government to meet some liabilities of troubled state fund 1Malaysia Development Berhad (1MDB).

Motorcyclists pass a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, February 3, 2016. REUTERS/Olivia Harris/File Photo

Lim Guan Eng said the ministry has so far made payments amounting to 6.98 billion ringgit, due to 1MDB’s inability to pay.

Reporting by Praveen Menon; Editing by Simon Cameron-Moore

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