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Thumbs up fo Malasian economy

MALAYSIA'S economy got the thumbs-up from both the IMF and Fitch- IBCA, the ratings agency, yesterday, two years after the onset of the Asian financial crisis.

The IMF conceded that Malaysia's heavily-criticised decision to impose capital controls during the crisis gave the economy a useful breathing space. It said growth will reach 4-5 per cent in 1999, after 1998's 6.7 per cent decline in GDP.