Malawi ex-Reserve Bank Governor Chuka dies
Former Reserve Bank of Malawi (RBM) Governor Charles Chuka has passed away, the bank has confirmed.
RBM Spokesperson Ralph Tseka confirmed in an interview, saying more details will be unveiled later.
Chuka served as RBM Governor from April 2012 to April 2017 under former President Joyce Banda.
When he became the Governor of Malawi’s Central Bank, he announced a series of reforms such as devaluation of the Kwacha as demanded by bilateral donors. The reform turned the economy around resulting in substantial foreign exchange inflows.
However, he lost control and oversight as the worst financial scandal dubbed Cashgate hit the country taking down the reign of President Banda.
Chuka was holder of a Bachelor of Social Science (Economics and Sociology) degree from the University of Malawi including a Master of Philosophy in monetary economics from the University of Glasgow. He worked for the Reserve Bank of Malawi from 1979 in the Economic Services division.
Chuka joined the World Bank Group from 2003–2009. He was a Senior Advisor to the Executive Director at the World Bank headquarters in Washington, DC. In 2010–2012, he worked as the CEO of Malawi Telecommunications Limited (MTL).
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