The World Bank s has aid in a report released on Tuesday that Malawi’s economic development shows that the country’s economy continues to grow at a moderate pace and has been urged to address “significant challenges.” The Washington-based lender’s report said Malawi’s Gross Domestic Product (GDP) will not be overly affected by the floods that […]
While some economic commentators describe it as a positive, Tobacco Control Commission (TCC) says the appreciation of the Malawi Kwacha against the dollar is a negative for tobacco farmers in the ongoing tobacco selling season. The kwacha is trading at K441.803 against the US dollar as of Friday in the country’s commercial banks, Nyasa Times found out. TCC board […]
Malawi is unlikely to meet its 2015 economic growth projection of 5.8 percent due to the impact of the agricultural sector of excessive rains suffered throughout the country, says First Merchant Bank (FMB) Group Managing Director Dheeraj Dikshit. Malawi’s government and the International Monitory Fund projected that Malawi’s economy would grow by 5.8 percent in […]
The International Monetary Fund has said after it resolved to immediately disburse about $18.1 million (K7.6 billion) to Malawi, one of Africa’s poorest economies , that new government of President Peter Mutharika has committed to rebuild trust in public institutions after the 2013 cashgate scandal saw the country losing about K20 billion r of public […]
The International Monetary Fund (IMF) has approved $18.1 million (almost MK7. 6billion) for Malawi under its three-year Extended Credit Facility (ECF) support program. The approval of the funds by the IMF board at a meeting in Washington on Monday means that Malawi so far has a total disbursement under the ECF program to US$ 90.3 […]
President Peter Mutharika in not just in the bracket of the country’s multi billionaires according to his declared wealth but his is also flaunting his opulence as he used a gold-spray painted wheelbarrow and shovel when kick-started construction of Njakwa-Livingstonia-Chitimba Road on Saturday in Rumphi. During a groundbreaking ceremony at Mhuju, Rumphi, Mutharika who declared […]
Malawi Government has already put in a lot of thinking on the objectives and functions of the Malawi Development Bank. Nonetheless, it is my sincere hope that such a Development Bank in Malawi will not be like “traditional development banks” in the developed world. It is also my sincere hope that such a Bank will […]
Reserve Bank of Malawi (RBM) statistics show that Malawi Kwacha currency continues further gains against the dollar and other major international currencies in the month of February 2015.1, Against the United States dollar the Kwacha is at K425 in some authorised dealer banks in Lilongwe from a peak of K520 it 2was sold in December […]
Standard Bank Group has revealed in its most recent release that higher interest rates and tough economic conditions in Malawi are affecting its operations in that small south-eastern African country, especially desire to offer loans to customers. “Tough economic conditions and concerns on the high interest rates continue to impact the group’s appetite to lending; this has in […]
Government wants citizens to embrace the ‘Best Buy Malawi’ campaign after a growing appetite for imported foreign products among Malawian consumers is raising concerns about the trend’s possible impact on the national economy. It is reported that Malawi’s import bill hit $2.8 billion in 2014 against $1.3 billion in export earnings. “We want Malawians to […]
So we got a very expensive loan from the African Development Bank (AfDB), without even having the courtesy of bouncing it with Parliament, to cushion our kwacha? Goodall Gondwe, our purse keeper, was right on the ball when he said we used ‘tricks’ to arrest our wayward kwacha from tumbling south and created a false […]
So the door closes on 28th for poor February. Short but precise, a number of things have happened law key and silently. I have in mind the traffic jams and crazed frenzy in the cities of Blantyre and capital Lilongwe. Studious Big Bullets, yes that red and white coloured peoples team made Malawi proud when […]
The United Nation is still placing Malawi among the world´s most impoverished and vulnerable countries under the category of the least developed countries (LDCs). The LCDs according to UN are a group of countries that have been classified as “least developed” in terms of their low gross national income (GNI), their weak human assets and […]
According to Wikipedia, common characteristics of a failing state include a central government so weak or ineffective that it has little practical control over much of the issues to do to with operations of government; non-provision of public services; widespread corruption and criminality and sharp economic decline. As a country, Malawi is dangerously exhibiting these […]
Malawi Government plans to train journalists in economic reporting to improve their data interpretation skills. The training follows recent failure by journalists to interpret data which also turned out to be from wrongly attributed to as the World Bank said it had not even issued out that particular data. Minister of Information, Tourism and Culture […]
The World Bank has explained its recent ranking of world’s 10 poorest countries where Malawi topped the list says the bank is yet to release the 2015 ranking. The World Bank’s Communications Officers in Malawi, Zeria Banda, says the recently published ranking is inaccurate as it is a mixture of the World Bank’s 2013 figures […]
Malawian President Peter Mutharika has earned a new accolade; he is now Arthur Peter Mutharika, President of the poorest country in the world. This is after the latest calculations by the World Bank indicated that Malawian has the lowest GDP and per capita income in the world. This is the first time for Malawi to […]
The other day (Nation, 12 February 2015) the Minister of Finance Goodall Gondwe was quoted to have said that one of the reasons for the Kwacha’s appreciation in value was a currency swap deal that Treasury had done with the PTA Bank. The deal worth $250 million (about K18 Billion) was not according to the […]