Anwar calls for greater accountability as global governance faces mounting challenges

KUALA LUMPUR, Oct 5 — Prime Minister Datuk Seri Anwar Ibrahim has called for increased accountability among those wielding political and economic power, asserting that democratic accountability must extend beyond elections to address governance failures at both national and international levels. Speaking at the Khazanah Megatrends Forum 2026, themed "Watching the Watchmen in an Imbalanced World," Anwar emphasized that accountability should be a continuous practice, not just during elections.

He highlighted pressing global challenges such as unilateral tariffs, ongoing conflicts, technological advancements, and gross injustices, stressing the importance of strengthening governance, particularly global governance, to ensure decision-makers are answerable for their actions. Drawing on the 1997 Asian financial crisis, Anwar recounted how businesses and ordinary citizens suffered due to decisions made without adequate consideration of their impact on the general populace.

He also pointed out the geopolitical, technological, and economic challenges, including the Strait of Hormuz conflict, the increasing influence of artificial intelligence, and the use of tariffs and export controls as tools of economic pressure. In terms of international trade, Anwar urged Malaysia to be cautious of the evolving global landscape and called for reforms in multilateral institutions like the United Nations, World Trade Organization, World Bank, and International Monetary Fund.

He noted Malaysia's efforts to maintain economic and diplomatic relations with various world powers, including the United States, Europe, China, South Korea, Japan, and India. Anwar highlighted the need for Asean to play a more proactive role in shaping regional developments rather than merely hosting meetings, advocating for differences to be resolved through negotiations, trade, and investment.

He emphasized that regional peace was crucial for economic growth and warned that ongoing conflicts could lead to catastrophe. Anwar stressed that democracy must be more than a proclamation; it must be practiced. He announced that the paper discussed at the forum would be presented to the Cabinet the following Friday, while also sharing a lighter anecdote about his wife's lack of enthusiasm for Formula One, drawing laughter from the audience.