Browsing through an article by a guest journalist J. Bradford Delong published in the ‘Daily Times’ of the 7th of January entitled ‘Try Everything’ several issues left me introspective and reflecting. However what crossed my mind most was the spelling out by renowned economists of doom for the global economy that might incidentally be headed […]
Malawi is now ranked the poorest country in the world ranked in order based on the GDP per capita, according to data from the World Bank. GDP is the value of all final goods and services produced within a country in a given year. A country with a GDP per capita of $765 dollars or less […]
Malawi President Peter Mutharika says Malawians should appreciate that his administration has put effective economic strategies since he took over power in 2014 and said he was poised to will deliver all that he promised in the campaign. He cited the reduction of fuel prices as a huge example of visible and tangible strides that […]
Economists are warning that the flooding in Malawi is likely to have an adverse effect on the country’s agro-based economy – which accounts for 30 percent of GDP and 90 percent of export revenues. A new Malawi government assessment said two weeks of torrential rains in early January washed away about 64,000 hectares of crop […]
Reserve Bank of Malawi has left its benchmark lending rate unchanged at 25 percent. The central bank said s it expected inflation to trend down to around 15 percent by June partly as a result of lower fuel prices after energy regulator slashed by a 10% margin the price of pump petrol in the wake […]
Malawi Energy Regulatory Authority (Mera) has reduced local pump price of fuel by an average of 10.2 percent. Acting Mera chief executive officer Elias Hausi said the reduction, the second within a month – is effective Thursday February 5, 2015. A statement released by Mera said the reduction of fuel prices follows a fall in global oil prices and the […]
Malawi President Peter Mutharika has made a passionate plea to Parliament support staff strike who started a strike despite offer of 18 % salary increase by government, should return to work and continue with discussions with government. The strike which started Tuesday at the Parliament Building in the capital, Lilongwe, has derailed a mid-year budget […]
Just as Malawi’s legislators were about to go into day two of their mid-term budget review meeting, the country’s parliamentary staff decided to keep their threats a reality and started an indefinite industrial strike with an ultimatum that they will only go back to their offices once their grievances are sorted out. The parliamentary staff […]
A new report published this week by The Wall Street Journal and Washington’s think-tank The Heritage Foundation, has indicated that Malawi fell on economic freedom—a measure that includes property rights, control of government spending, monetary freedom and trade freedom. Malawi was rated as unfree having scored 54.8, which is 0.6 points lower than last year, ranking […]
Malawi President Peter Mutharika said on Tuesday that the country’s growth in 2015 will fall short of the 5.8 percent projected at the beginning of the year because of the damage massive floods have caused to the country’s farming industry. “The recent floods have caused a lot of damage and will bring many negative socio-economic […]
Malawian President Peter Mutharika said on Tuesday that the current floods which hit 15 district early this year has cost the Malawi economy at least K23.9 billion and that his government was seeking $81 million to support floods survivors. President Mutharika said in a State of the Nation address that K23.9 billion excludes the cost […]
Malawi government has denied that it was caught off-guard by the floods as the agro-based economy, which had recently started showing some signs of stability, is now in reverse gear. Paul Chiunguzeni, the head of Malawi’s department of disaster and relief, rejected accusations that the country was ill-prepared, saying that it “had mixed success with […]
Malawi government has said it has registered tremendous improvement in the official and private foreign reserves translating into greater import cover as never seen before in the country’s history. Government spokesman Kondwani Nankhumwa, who is also Minister of Information, he official foreign reserves are at USD646.26 million translating into an import cover of 3.38 months […]
We, the undersigned Civil Society Organizations working in the realm of human rights, governance, HIV/AIDS and health, together with all Malawians of good will have noted with concern the crisis state of the economy, accountability, governance, rule of law and human rights in the country collectively observe as follows: Concerned with the dwindling state of […]
Judiciary workers in Malawi have defied government calls to resume work despite the recent government threat to seal off the courts and withhold salaries for striking staff members if they refuse to end the strike. Government chief secretary George Mkondiwa directed that the striking workers should resume work on January 5 or else the government […]
As the Malawi’s currency – the Kwacha – continues to register steady appreciation, Malawi’s Minister of Information Kondwani Nankhumwa is appealing to the business community to respond accordingly. In an interview with Nyasa Times on Friday, Nankhumwa said it would be commendable and reasonable if the business community also slashed prices of their commodities and […]
Malawian President Peter Mutharika has described the past year 2014 as a success towards improving the country’s economic stand. Mutharika made the remarks on New Year’s Day at Sanjika Palace in Blantyre when he hosted a cross section of different religious leaders from southern region to a state banquet in order to celebrate and give […]
Outspoken executive director of Consumers Association of Malawi (Cama) John Kapito differed has said the economic woes in the past year was squarely blamed on a “lost leadership.” He described 2014 as a very difficult year for consumers. “The year 2014 is one year consumers would like to forget quickly. The kwacha depreciated hugely, causing […]