Prime Minister Datuk Seri Anwar Ibrahim has recently revived the proposal for an Asian Monetary Fund (AMF) in a bid to promote regional financial stability and reduce dependency on the US dollar (USD). The idea of an AMF was first proposed in the aftermath of the 1997 Asian Financial Crisis, but the proposal was met with resistance from the International Monetary Fund (IMF) and the US, who saw it as a challenge to their dominance in the global financial system. According to the IMF, the USD accounts for around 62.

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