Reducing inflation is the most important policy issue for Malawi in the near term, the IMF said in its recent review of the country’s economy. The report shows currency depreciation and uncertainty about the future direction of policies have kept inflation above 20 percent on average. The economy, heavily dependent on aid flows, is still […]
Finance minister Goodall Gondwe says Access to Information bill (ATI) will be tabled in parliament February because it is part of conditionalities that the International Monetary Fund (IMF) has set for Malawi to qualify for the Breston Wood’s extended credit facility. The announcement gives Malawians a sigh of relief although it is unlikely that the […]
Leader of the opposition, Lazarus Chakwera, has used his New Year message to say that only a truly caring and transformational leadership can exploit opportunities for a better and prosperous Malawi. In his New Year message, Chakwera piled on the gloom, telling Malawian that they face the worst cost of living crisis in a generation, […]
Malawians are Friday counting the cost of celebrations as they leaped into 2016 but most of them feel the year will not be any better than last year. On Thursday, they celebrated the bidding farewell of 2015 in different styles with some spending the whole night in prayers though the majority spent the night eating, […]
President Arthur Peter Mutharika says he believes that with resilience and focus from all Malawians, 2016 is going to be a better year than 2015 which was more of a formative year of his government’s long-term development plan for the nation even in the absence of donor support. In his new year’s address to the […]
Malawians are on Thursday bidding farewell to 2015 on a bad note as the kwacha continues to tumble against the dollar and inflation is increasing becoming high pushing up the cost of living. Foreign exchange market indicates the kwacha is trading at K1 000 to the British pound and K668 to the dollar. The kwacha’s […]
Malawians on Friday have joined Christians worldwide in celebrating Christmas; a day Christians commemorate and celebrate the birth of Jesus Christ whom they believe is the Son of God who will lead them into new life in heaven after death. Radios and televisions were awash with messages of the birth of Jesus who mostly preached […]
Malawi’s economic outlook remains difficult reflecting the negative impact of weather-related shocks, the ongoing suspension of budget support, persistently high inflation and weaker global demand which could hurt the country’s exports, the International Monetary Fund (IMF) Executive Board has said. The global multi-lateral lender said in a statement at the end of the 2015 Article […]
Life in Malawi continue to remain unbearable following revelation that for a family to live a comfortable they need K131,207.00 as their monthly income, the Centre For Social Concern(CFSC) a social-research arm of Catholic church says. CFSC data show that the average basic needs basket for the three cities of Blantyre, Lilongwe and Mzuzu has […]
The advisory firm, Nico Assets Managers has said in its report that Malawi Kwacha has depreciated by 28.5 percent compared to a 14.5 annual depreciation rate recorded during the same period last year. And the local unit will continue to depreciate as the lean season advances, the report said and in view of excess demand […]
Opposition in Malawi are forecasting another economic turbulent year following the government messy handling of farm input programme, saying Malawians should expect severe food shortages that will push inflation up. However, Finance minister Goodall Gondwe says the government expects a 3 percent economic growth buoyed mainly by bumper yield unless El Nino shatters the dream […]
Finance minister Goodall Gondwe says the government has this month borrowed K18 billion out of the budgeted K56 billion, an indication he said government borrowing is significantly going down. There was no independent confirmation of the figures but if true, Malawi could be on track for the much needed extended credit facility with the IMF. […]
Malawi’s poorest are expected to reach 9:5 million in 2020 from the current 1:5 million and international charity, Oxfam is asking the government to increase subsdies to protect the poor and vulnerable. In a report, Oxfam says inequality between the halves and the halve nots is alarmingly increasing and there was need for immediate preventive […]
Finance minister Goodall Gondwe has cast a shadow of hope that the government will be on track with the International Monetary Fund (IMF) extended credit facility in February 2016, a move that will trigger the coming back of Malawi’s traditional donors. Speaking during a round table discussion on Monday in the capital Lilongwe organised by […]
Malawi’s central bank, the Reserve Bank of Malawi on Monday chalked 50 years of its existence amid economic turmoil and high inflation rates the bank is battling to put under control. The bank’s governor Charles Chuka conceded in an interview it would be awkward to have full blown champaign celebrations amid harsh economic atmosphere. He […]
Government has been forced to reveal the number of people on President Peter Mutharika’s three nation tour early December as pressure continues to mount on the DPP led government to drastically cut down on expenses following the virtual collapse of public health and education sectors. Minister of Foreign Affairs and International Cooperation George Chaponda said […]
Malawi’s economy can only be fortified if enough focus is put on agriculture by turning it into a fully-fledged business institution thereby spurring the country’s export base, says President Arthur Peter Mutharika. He was speaking on Thursday in Mangochi when he officially opened this year’s Economics Association of Malawi (ECAMA) annual general conference held under […]
President Peter Mutharika has challenged economists in the country to come up with workable solutions to deal with economic problems of the country than preaching doom. Mutharika said this Thursday in Mangochi when he opened Economists Association of Malawi (Ecama) annual general meeting. “Bring forward solutions that would inspire the nation than preaching doom,” said […]