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Email a copy of 'Malawi MPs lament ‘economic terrorism’: Bank interest rates are extortionate' to a friend
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Rumphi East member of Parliament (MP) Kamlepo Kalua (People's Party-PP) has accused the government of Democratic Progressive Party (DPP) of emplying intimidation...
This guy is a Jew. And as far as I know in that religion interest is prohibited. In fact in all religions. Nde akuthandauza chani? Why doesn’t he get his fellow Jews to come and set up interest free banks. Zachamba et… Whether 40 percent 10 percent or 100 this system of the bank is what has sucked up most of the blood and sweat of nations and has resulted in the incapable state of the average Malawian man to obtain any lad due to lack of collateral – to be in such a state. This guy is speaking on… Read more »
Israel or Malawi economy
…..is it that the captain of a ship be the MBALE of one with knowledge and art of navigation or the possesor of the knowledge and art it self………? ……..the one who enjoys the shadows remain there and elect master of shadows to lead them, but the master takes them to nowhere apart from dip corner of the cave….but the realization that you are in a cave means you have seen the light and that is the first step out of the cave, but if the king is benefiting from the caves darknes do u think will allow anyone to… Read more »
That is why NO foreign company want to come and invest in Malawi. Interest is high too abnormal high. Then they take charges on savings. What a heil is this? How can small savers save money in the bank? This is why people found there own way of borrowing “Bank Nkonde” this is illegal in civilised world. But small businesses especially women is better with 20% Interest than 40%. I went to Zambia there were many foreign banks. TZ is the same. If Malawi could get foreign banks people will never bank in traditional Malawi banks. They will go bank… Read more »
Yes honorable mp,
Remember this interest and that inflation are the works of you Jewish people.
It’s your own make this syndrome in order to reduce the number of the would be rich or well to do people of another nation. Yet,you today seem as if you are concerned with our plight.
What type of Economics do you expect from a DPP government whose anchor foundation is woven in ABSOLUTE KLEPTOCRACY. A government with corrupt rulers (kleptocrats) inclusive of Bisnowatty, CHAPONDA,MUSSA,NAKHUMWA,GONDWE,APM, MULLI, that use their power to exploit the people and natural resources of their own territory in order to extend their personal wealth and political power.
Countrymen, I always get angry when some people speak as if they have the monopoly of wisdom or knowledge in this country. Malawians, let’s accept that our economics are upside down and all these debates we are having today are a result of the bad economic trajectory we have chosen to walk on for the past two decades. Being someone who was born and raised on farmland in the 60s, 70s and 80s I always wonder why some people think that answers to our economic quagmire will come from textbooks and the jargon that goes with them. To me the… Read more »
Insightful analysis Kent. Sound policy (economic, agricultural, etc.) has indeed been wantonly sacrificed at the alter of political short-termisim for the convenience of the elite. The transition to democratic pluralism was badly managed and we have descended down the path to rot ever since with successive governments since 1994. In the name of inclusive economic growth, we swallowed hook and sinker the deregulation, privatization and marketization gospel preached by the Bretton Woods institutions without adequate consideration of our local settings. As you posit, we need a different kind of structural adjustment to rebalance the levers of our politics and economics.… Read more »
Qwerty, I hope that’s your real name (and I have chosen not to hide my ID. I don’t see the reason for doing so in my own country – who should I fear? Man??), I like your statement though “The current political and economic establishment would certainly fight back as such revolution would disrupt the incentive structure.” I totally agree with you. Getting out of the mess the country is in will take nothing less than a revolution and bloodshed if that’s what you want to hear from me. Malawi has already reached a post-democracy era and, as such, only… Read more »
Well narrated. However, we must not overlook that some of these problems are externally induced. Before we rush to oust the current regime over some of those issues, we must well in advance contemplate how the issues could be successfully addressed without external reprissals. Let’s admit, the world economies are more interdependent than it it were a decade ago, just as they were more interdependent a decade ago than half a century ago! Your presentation leaves a lot to be desired if it is really about prohibitive interest rates.