The Malaysian government has clarified that it has no plans to peg the ringgit at this time, according to Finance Minister II Datuk Seri Amir Hamzah Azizan. He explained that the current economic conditions are different from 1998 when the ringgit was pegged. In 1998, the stock market had plunged by 76%, while currently, the stock market has risen by 6%. Additionally, foreign debt in 1998 was more than 16% of GDP, whereas now it is only 2-1%. Bank Negara's reserves are currently around RM13 billion, compared to RM26 billion in 1998. Amir Hamzah believes that the ringgit will stabilize this year and perform better in the future under the MADANI economy framework. The government is sensitive to the issue of the ringgit and will address it. [259615ce]