MALAYSIA is almost done settling 1Malaysia Development Bhd’s (1MDB) debts, Deputy Finance Minister I Ahmad Maslan said yesterday.

He told parliament that the outstanding debt stood at RM5.15 billion as at September 30.

“(Malaysia) is expecting US$1 billion or RM4.65 billion from International Petroleum Investment Company (IPIC) in 2024 and the overall balance of the trust account amounting to RM9.85 billion, that is sufficient to cover the payment of the remaining 1MDB debt commitment amounting to RM5 billion.

“Therefore, I think this 1MDB problem is almost solved,” he told the Dewan Rakyat during his winding-up speech on the Supply Bill 2024 for the debate at committee stage.

Ahmad added that the government will only need to make an interest payment of RM287 million next year.

“The last principal payment is due in 2039, and that is RM5 billion,” he said.

In March, the government had paid 1MDB’s debt amounting to RM43.8 billion, leaving a balance of RM9.7 billion, involving a principal of RM5 billion and RM4.7 billion in interest. – November 7, 2023.