The majority of Malawians in urban areas are still finding it hard to make ends meet as the cost of living for a family of six continues to be high than their income. Most of such households monthly income is below K50,000 but according to the Centre for Social Concern (CfSC) May basic needs survey […]
Malawi’s economic and business commentators Vitima Mkandawire and Henry Kachaje have described as insults government claims that the country’s economy has recovered due to the appreciation of the local currency – while the situation on the ground “continues proving to the contrary”. Speaking during the ‘Sunday Round-Table’ program which Nyasa Times monitored on a privately owned Capital Radio, […]
Monetary policies are instruments used by the central bank to manage and control the economy. These instruments are in form of interest rates and credit creation facilities that can either be tight i.e. high interest rates or loose i.e. low interest rates. Monetary policies work collaborative partnership with another form of government intervention into the economy […]
“In Weekend Nation newspaper, award winning columnist Ephraim Munthali of the ‘Cut the chaff’ has taken a critical approach on President Joyce Banda’s state opening address of Parliament which she announced the establishment of a Mudzi Trust Fund . Here is the full article as it appeared: Now that the contours of the K638.2 billion 2013/14 national budget […]
Fuel prices went down effective on Thursday, Malawi Energy Regulatory Authority (Mera) has announced. The energy regulatory body said petrol prices is down from K694.30 to K680.80 per litre, diesel from K677.20 to K657.40 per litre. However, paraffin for domestic use remains at at K177 per litre. This reduction, the second successive this year, follows […]
Malawi’s former vice president Dr. Cassim Chilumpha has said the austerity policies of President Joyce Banda are working, making a strong and plausible submission in parliament that despite critics comments against the 2013/14 national budget, the future looks to be “good and better.” Chilumpha who has served in various ministerial portfolios including Finance, Energy and […]
Malawi government has warned companies that continued to defy its call to reduce goods and services prices following the increase in the buying power of the Kwacha currency that they will be taken to task. Minister of Information, Moses Kunkuyu, who is government spokesman said authorities will pursue companies who defy the call and that […]
NBM Capital has said Malawi’s liquidity position in the financial system has significantly improved closing with a surplus of K3.9 billion above the required K36.4 billion. The financial company, a subsidiary of National Bank of Malawi, said the Treasury Bill (TB) issue of 21 May 2013 was fully subscribed, attracting about K5 billion from the […]
Officials of Malawi’s interfaith organization, Public Affairs Committee (PAC) say they are very cautious to join what they have described as “current government’s led euphoria” on the appreciation of the Kwacha to avoid feeding people with false hopes concerning economic recovery. This is highlighted in a communiqué issued Wednesday signed by Vice Chairperson Rev Dr Felix Chingota and Publicity Secretary Fr Peter […]
Opposition DPP lawmaker for Mulanje West, Patricia Kaliati has called for prices of goods to be reduced to demonstrate that the Kwacha currency has indeed gained currency. Speaking in Parliament, Kaliati, a former Information Minister, wondered why prices of commodities are still high when Kwacha is being touted to be gaining strength against the major […]
The Malawi kwacha continued its appreciation against the world’s reserve currency, United States dollar, climbing to sell at K328 per dollar. Exchange rates monitored at Bureaus and the National Bank show that this movement is from K354 the previous week down from the all time high of K480 per dollar since December last year. Minister […]
Any sensible person should know that the past, whether good or bad, is a reference point for the present and future. Therefore, it goes without saying that it is necessary to first look at the performance of the Bingu wa Mutharika government so as to objectively comment about President Joyce Banda’s government. Politics aside, no […]
Malawi’s Finance Minister Dr Ken Lipenga has estimated that the potential rate of the 2013 domestic economy growth is going to rebound to 5.0 percent up from 1.8 percent in 2012 with expenditure pegged at K479.1 billion by the end of the financial year compared to K475.8 billion revised at Mid-Year. Mechanically, growth would be […]
Malawi’s Minister of Finance, Ken Lipenga, on Friday presented the long awaited President Joyce Banda’s second national budget with a declaration that government will continue with its harsh reforms it undertook last year. Lipenga stood with confidence in front of MPs in the Houses of Parliament saying the “key objective” of the government is to “restore macro-economic […]
Minister of Finance Dr. Ken Lipenga says government is putting in place policies to ensure that the appreciation of the kwacha is sustainable. Speaking in reaction to Leader of opposition John Tembo response to the state of the nation address, Lipenga said the country has to deal with structural problems in the economy. “The cycle […]
Leader of Opposition and president of the opposition Malawi Congress Party (MCP) John has trashed President Joyce Banda’s speech, accusing her of giving out contradictory information and also lying to the nation by saying that the country’s economy is on the right path. Responding to the state of the nation address on Monday afternoon, which President Banda […]
The National Statistical Office (NSO) says the year on year headline inflation for the month of April 2013 eased to 35.8 percent, representing a minimal 0.6 percentage points down on the month of March. The NSO said urban and rural rates stand at 42 percent and 31.2 percent respectively. “Core inflation which excludes food costs, […]
Increased and continued flows of donor aid and foreign exchange earnings from tobacco sales continue to stabilise the Kwacha which on Friday, May 17 closed trading at K354 against the US dollar. This is an appreciation from the previous week’s K380 per dollar which was trending from the all time low of K420 per dollar, […]