News of the move –motorists will have to dig deeper into their pockets following the upward adjustments of fuel prices by Malawi Energy Regulatory Authority (MERA). Nyasa Times understands that the regulator have adjusted upwards fuel prices effective November 8, 2014. Petrol is now MK 856.70 up from 796.20, per litre Diesel now selling at MK 865.90 from […]
Legatum Institute’s 2014 Prosperity Index puts Malawi 118th globally Malawi has dropped 12 places in the 2014 Legatum Prosperity Index, which measures the human and economic prosperity of nations around the world released in London on Tuesday. Legatum Institute’s 2014 Prosperity Index measures a set of eight categories that reveal how nations perform both economically and in vital […]
The Malawi Kwacha currency hashit the record low against the dollar as commercial banks quoted the local currency K520 per dollar, a loss of about 20 percent within two month. According to official figures provided by the Reserve Bank of Malawi (RBM, two months ago the kwacha was selling at K412 to the dollar, just […]
“It’s the economy, Stupid!” – James Carville, Campaign Strategist for Bill Clinton’s successful 1992 presidential bid One cannot help the nagging feeling of “déjà vu” given our fast deteriorating economic and fiscal scenario following the withdrawal of direct budgetary assistance under Joyce Banda’s PP administration which has spilled over to the new government. There is an […]
Prices of commodities in local markets are going up and cash-strapped Malawi should brace for more torrid times as fuel prices are expected to follow suit. The price rise is expected to be discussed at a special committee from Ministry of Finance, Reserve Bank of Malawi (RBM) Malawi Energy Regulatory Authority (MERA) which converges every […]
Reserve Bank of Malawi (RBM) has raised its policy rate back up to 25.0 percent as inflation is expected to accelerate to 25.4 percent in December due to rising food price and the depreciating kwacha currency. Malawi’s headline inflation rate eased to 23.7 percent in September from August’s 24.5 percent, but the central bank said […]
A professor in economics, Chinyamata Chipeta has spoken against the floatation of the Kwacha, saying the policy is wrong as the local unit continues to weaken further against the US dollar with the middle rate falling to about K440 compared to about K430. The floatation of the kwacha was made in 2012 by the previous […]
Malawi has been ranked as the eighth poorest country on the continent and the fastest growing consumer market in the world . Richest Lifestyle, a publication that is dedicated to the lifestyle of celebrities, rich and fabulous people around the globe, as of 2004, 54 percent of Malawians lived under the poverty line on less […]
Malawians should brace themselves for hard times as the local currency Kwacha continues to weaken further against the US dollar with the middle rate falling to about K440 compared to about K430. According to Consumer Association of Malawi (Cama) executive director John Kapito, this will see a number of goods increase in prices . The […]
Muslims leaders and scholars in Malawi have noted that the country’s citizens are wallowing in economic hardships and want a three-day annual national Ijitima conference to look at strategies of ending the suffering of people. A renowned scholar and academic Dr. Imran Shareef Muhammad said the conference is “timely”, pointing that Malawians are “struggling socially […]
Malawi Finance Minister Goodall Gondwe has said the country’s economy may be understated by as much as 40 percent . Gondwe told Bloomberg TV Africa in Washington on Oct. 11 that “the methodology that we are using to calculate gross domestic product has got to be looked .” The 78 –year-old former World Bank official said: “I’m sure that […]
Former finance minister and one of the May 20 flops in the presidential elections, Friday Jumbe has said political leaders who met President Peter Mutharika on Thursday at Sanjika Palace in Blantyre advised the Malawi leader to avoid being extravagant on hard- earned tax payers money. Jumbe said they advised Mutharika to implement fiscal discipline […]
“Everyone is talking about crime, tell me who are the criminals…” ~ Peter Tosh Growing insecurity in Malawi and efforts by the country’s security services to bring it under control has dominated the local new media headlines and public discourse in the recent weeks. President Peter Mutharika has declared “war on crime” and the security […]
The DPP Government is dead broke, yet President Peter Mutharika has endorsed a 68-man (and women) delegation to accompany him to New York where he will be attending the 69th Session of the United Nations (UN) General Assembly, blowing more than MK400 million in the process. According to highly placed government sources at Capital Hill, […]
Malawi’s headline consumer inflation quickened to 24.5 percent year-on-year in August, from 22.3 percent in July, partly on higher food, housing and water costs, the National Statistics Office in Zomba said. According to Reserve Bank of Malawi (RBM) spokesperson Mbane Ngwira, the relatively high Malawi inflation rates is due to different stages in the country’s […]
One of the most serious errors made by the post-democratic Malawian regimes has been the lack of a committed political leadership to give sincere priority to smallholder agriculture. Unlike during the one party MCP rule where the late Dr. Hastings Kamuzu Banda paid more attention on this sector of agriculture which saw Malawi being food […]
Leader of the Fellowship Church of All Creation (FECOACRE), Senior Prophet FT. Samuel has said Malawians should brace for severe economic challenges in the next 12 months, and has since appealed for patience and prudent management of resources both at household and national level. Delivering his prophetic sermon on Sunday at his Church headquarters in […]
Malawi’s Minister of Finance Goodall Gondwe has said the country is “ at its weakest” with huge arrears and lack of budgetary support. Gondwe said this when he presented in parliament on Tuesday the 2014/15 zero-aid budget amounting to K729 billion which does not include budgetary support from donors . The government purse keeper said […]