Comments on: Malawi economists push for devaluation of currency

By: J

Thu, 27 Aug 2009 13:07:43 +0000

Where did you Nyasatimes toss my thanks to Dr. Bayangi Kaunga?? Sometimes I’m mystified with the way you behave.

By: J

Thu, 27 Aug 2009 10:32:07 +0000

You know other countries like South Africa like employing Malawians, the reputation is good in most places we go, but back home, it’s just pulling down each other instead of working hard as someone’s luck can be our luck in the future.

I heard from a friend who happened to be in Mozambique that alimi awo can not even make mizele yabwino ng’ati kumalawi. We should be looking at 50-100yrs and hope those who have made enough money in Diaspora can return home or make remittances caz monies will never be enough.
I believe if ship is to sink, the majority will drown together. Like computers, we are far behind if one can see the maths which countries like India, Japan, South Korea and the like solve and this just leaves more room to be changed, but ulimi, we are blessed with water and soil even though our land is small but I heard that Taiwan is smaller than Malawi and yet they developed from agriculture, selling bannanas to Japan, EU countries and now they moved to high tech.

By: J

Thu, 27 Aug 2009 09:19:18 +0000

Hope that book you know is for Dr. Bayangi Kaunga caz I don’t knows more books as sukulu tinathawila pa zenela and it’s easy to hide something in book that I will most likely not find that treasure.
But that book you know can be interesting to read about dark sides of the world. If people are hiding forex, they will not make money this time from the readings. Keeping Forex this time is just as kusunga nyama ya mbuzi kudikala malonda mpaka nyamayo kuzuma as time goes. They better turn that forex to something which will be profitable. Choices!?

I will be reading the link which Dr. Bayangi Kaunga provided. Internet helps.

By: Chaka chake ndi chino

Chaka chake ndi chino — Thu, 27 Aug 2009 06:39:00 +0000

no need to devalue the kwacha. how come we are surviving? Kwacha woye!

By: J

Thu, 27 Aug 2009 02:25:46 +0000

I do believe the problem of Zimbabwe extends to the neighboring countries. The leader of Zimbabwe shares the blame which I personally feel it’s mainly the west with that mind set to control as if we are just ponies on Chess board. With this economic crisis, the Southern African Nation will also have much effect considering the situation in Zimbabwe.

SADC!? EU really works like a block that even those countries after fall of USSR which were economically poor by that time and now have improved drastically but African countries are not, looking more at domestic, but I wonder where domestic margins ends, because strong neighbors economically will most likely improve domestic economy.

By: J

Thu, 27 Aug 2009 01:53:04 +0000

Do you think we are a major trading partner with USA? Do you think those who wrote that site includes other left wing parties or is just western mentality? Why of all currencies in the world should they call this move Dollarization, why not encouraging adapting currencies like Yen or other well known currencies?

I don’t believe US has the heart of all countries, but new forms of controlling the world, and the power is collapsing, changing to other countries. Before US$, other currencies once played a role as world currency, it’s just a matter of time.
Just look at this from that link “Full dollarization can protect countries from currency crises.”
Why are they having this economic crisis? How come they can be having a deficit of several trillions? If it were another country, that will be the end, but the west back them because without US, the west will fall. I believe that page is written by people within that empire, ready to swallow others, extending their geopolitical/economical power.

Anyway, thanks for the link, will go through it later that I can know more of their tricks.

By: anda kamanga

anda kamanga — Wed, 26 Aug 2009 23:05:32 +0000

Text book economics gives us assumptions for the devaluation to work. would they hold true for Malawi? This is reality. malawi does not produce a highly demanded unique product. What we produce other countries produce as well and even better products in most cases. We should not forget that most of our trade deals are based on compassion and not competition. this is the painful truth..someone has pointed out that the net effect of devaluation on the economy may not be desirable. The very companies who may claim to benefit from that move will not even raise the wages of its employees! thats just one example.

By: morson

morson — Wed, 26 Aug 2009 22:23:55 +0000

Just stick to that Bingu.Alot of crooks are waiting to make much gains out of that.Alot of Malwians are poor and cant afford the effect of the devaluation.

By: Malawi Patriot

Malawi Patriot — Wed, 26 Aug 2009 21:43:08 +0000

I entirely agree with you. The big companies in Malawi only want to be big fish in a small pond and cannot try to swim in a bigger pond i.e. going international.
We need Malawi to also have multinationals. All these multinationals we see today they all started small. So Malawi companies wake up.
For example in the banking sector, Banks can’t you see foreign influx of Banks you will soon be crowded out. Don’t be caught flat footed diversify your risk by going international.

By: Malawi Patriot

Malawi Patriot — Wed, 26 Aug 2009 21:19:19 +0000

Why cant the exporters among other ways making their exports cheaper thereby competitive on the world market by increasing their production efficiency. As many people have commented before why hasn’t the numerous previous devaluations made Malawi exports cheaper? It is a big no. World Bank and IMF have a big problem of always prescribing a one size fit all solution. How can they give the same solution to a net exporting country and net importing country.
As for black market, it will always be there whether devaluation or no devaluation. Want a living example, Zimbabwe. I cant be believe shallow thinking that black market rate is because of overvaluation of Malawi Kwacha.

LONG LIVE DOLLAR PEGGING