Mwanamvekha’s economic claims fuel DPP push as opposition cries foul

Malawi’s Finance Minister, Joseph Mwanamvekha, has told supporters at a Democratic Progressive Party (DPP) rally in Machinga that the country’s economy is stabilising, citing improvements in foreign exchange availability, a stronger kwacha and falling prices of essential goods.

His claims were immediately challenged by the opposition, which described the picture he painted as inconsistent with the realities facing most households.

Addressing the rally, held to drum up support for DPP parliamentary candidate Francis Haiya, Mwanamvekha said foreign exchange shortages had eased and that the kwacha had strengthened significantly.

He told the crowd that the exchange rate had moved from K4,800 to K3,500 against the US dollar, though he did not provide Reserve Bank data or market figures to support the assertion.

The minister also said the Peter Mutharika–led administration had stabilised the cost of living, pointing to a sharp fall in the price of maize.

According to Mwanamvekha, a 50kg bag that cost K120,000 under the Malawi Congress Party government was now selling for K30,000. He did not cite official pricing records or explain the basis for the reduction.

Mwanamvekha further claimed that interest rates were declining, making it easier for citizens to borrow from banks and microfinance institutions. No figures or policy details were provided.

He framed the DPP’s economic agenda as one focused on growth, improved living standards and wealth creation.

However, opposition leader Simplex Chithyola Banda, who previously served as finance minister, dismissed the remarks as misleading.

He said the economy remained weak, citing poor management of public resources and ongoing hardship for ordinary Malawians.

The contrasting statements highlight the political stakes ahead of the by‑election, with both sides seeking to shape public perception of the country’s economic direction.

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