Malawi major opposition parties have said there is hard life affection people in the country and a Liberation Movement (LM) leaders have sicne called on President Peter Mutharika to listen to the cries of the suffering citizens, warning that their grievances could “soon explode into civil unrest if not addressed.” The opposition have expressed concern […]
Malawi government has swallowed its pride by admitting that it failed to fund ministries, departments and agencies (MDAs) which forced them to suspend delivery of some critical social services to the public, including healthcare, but assured that it is working hard to ensure that they are funded in time. Addressing a news conference at Capital […]
Four United Kingdom (UK) members of Parliament under the Commonwealth Parliamentary Association are visiting Malawi from Monday to Thursday and have predicted more tough times for impoverished citizens after the hike of fuel prices at a time the majority of Malawians is struggling to make ends meet. The members of the delegation are Oliver Colvile […]
The Ministry of Finance, Economic Planning and Development Monday started a six week long course for its newly recruited economists to equip them with knowledge of government machinery and its procedures. According to Director of Development in the Ministry Peter Simbani, the induction course being offered by Staff Development Institute in Blantyre and is in […]
An influential Muslim cleric has has faulted development strides taken by Malawi in the recent years, saying it is because there are wrong people in strategic positions. Shiek Dinala Chabulika expressed concern that eonomic development has been slow with Malawi now ranked among the world’s poorest nations. “ We have wrong people in strategic positions,” […]
A team of International Monetary Fund (IMF) has predicted of tough economic times ahead because the Democratic Progressive Party (DPP) is off course having bloated its public service and accumulated a huge debt. Head of the IMF review team Oral Williams has expressed concern over the huge debt the government continues incur against the advice […]
Finance, Economic Planning and Development Minister, Goodall Gondwe who admitted in parliament that the country is still passing through “turbulent times” has maintained that Malawi economy is in a mess, according to published report. In an exclusive interview carried by the daily newspaper, The Nation on Tuesday, Gondwe admitted that Malawi has not yet established […]
As Malawi economic fractures deepen, opposition leaders are saying they want to have an audience with President Peter Mutharika and tell him in the face that politically and economically, Malawi was in a crisis. “Economically, we are not making any progress, hence our wish to meet the President,” said Dr John Chisi president of Umodzi Party (UP). […]
Minister of Finance, Economic Planning and Development Goodall Gondwe says the ever increasing widening gap between the rich and the poor is a major concern to government. Gondwe said this on Friday when he opened the Institute of Chartered Accounts. “The institute and other professional bodies should give us advice on how best we should address […]
An International Monetary Fund (IMF) mission as met Finance, Economic Planning and Development Minister Goodall Gondwe and Reserve Bank governor Charles Chuka where they have expressed concern over the rising inflation and bank interest rates. Treasury spokesperson Nations Msowoya said the IMF technical team, apart from looking into how the government has performed in the […]
President Peter Mutharika on Thursday left Malawi for United States in a chartered presidential jet, a complete departure from his promises that the government would use public resources prudently amid continued worsening economic conditions. It was not immediately known how much the government has paid for the charted plane as such bills are kept under […]
Malawi is rapidly deteriorating into failed-state status and would be declared so failed should the persistent water and electricity woes currently rocking the country not be abated, a local human rights watchdo has said. Centre for the Development of People (CEDEP), a local non-governmental organisation focused on promoting and defending human rights, said in a statement made […]
Minister of Finance, Economic Planning and Development, Goodall Gondwe has conceded that Malawi is facing economic turmoil following food shortage. Gondwe said his projection of the economy to rebound from a growth rate of 3.1 percent in 2015 to 5.1 percent in 2016 has failed. “Growth of economy has been stunted very highly by three percent,” […]
Staff at the national grain reserve, National Food Reserve Agency, have started a sit in strike on Thursday to press the government increase their salaries. The workers are urging the government to implement a salary structural pogram that would put the NFRA staff salary at par with other parastatal staff. “Our salaries are far below […]
An economic think tank, Malawi Economic Justice Network (Mejn) has told the government to immediately implement a parliamentary resolution that restricts civil and public servants travel by economy class, saying up to K8 billion would be saved every year. Mejn executive director Dalitso Kubalasa said two months after parliament unanimously agreed to stop civil and […]
The depressing news this week is that Malawi’s public and publicly guaranteed (PPG) gross debt is worsening both in absolute terms and as a ratio of gross domestic product (GDP). This year alone, government plans to borrow from bilateral and multilateral partners around $917 million (about K687 billion) in the 2016/17 financial year to finance […]
A couple of years ago, I came across an admirable review of the often-lauded personal finance book The Millionaire Next Door. First published in 1996, the book has held a consistently high level of popularity for more than a decade. What valuable insights does this book contain! That was the all important question I had […]
There is still much cause for concern regarding Malawi economic prospects with reports that the Peter Mutharika led-government plans to borrow from bilateral and multilateral partners $917 million (about 687 billion) in the 2016/17 financial year to finance several projects. Economic commentators argued that it would be disastrous for Malawi’s long-term growth prospects as government […]