May 24, 2018 / 9:46 AM / in 10 months

Malaysian minister confirms central bank, Khazanah funds used for 1MDB payments

FILE PHOTO: Construction workers stand in front of a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia February 3, 2016. REUTERS/Olivia Harris

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).

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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