And it will destroy living standards in a country that has no means of financing a current-account deficit and so must eliminate it by shrinking domestic purchasingpower.
With current interest rates on savings accounts, CDs, and money market accounts languishing near zero, expect purchasing-power losses to continue for depositors.
Tenaga is now squeezed between costly power-purchasing contracts foisted on it by the previous government and low tariffs insisted on by the current one.