The Anti Crisis Bureau (ACB) headquarters is advising the general public in Malawi through you the media that a dangerous criminal Mr. Crisis has escaped lawful custody from undisclosed prison in the Republic of Malawi where he was remanded over the past 2 years awaiting trial. At the time of his escape, Mr. Crisis is believed to […]
Malawi will see its economy grow by 4.3 percent this year in its recovery programme, Finance Minister Ken Lipenga told parliament in the capital Lilongwe on Friday. The economy is expected to accelerate to 5.7 percent next year, Lipenga said in a budget speech. Lipenga said government has set out economic reforms including liberalizing Malawi’s foreign […]
Minister of Energy and Mining, Dr Cassim Chilumpha Thursday accused former Democratic Progressive Party (DPP) ministers in Parliament for contributing to the suffering Malawians are currently going through. Chilumpha, Member of Parliament for Nkhotakota Central east , stood on a point of order when DPP leader in the House, Dr George Chaponda asked why some […]
Malawi has finally got back the International Monetary Fund (IMF) programme after an agreement was reached a 3-year, $157 million package. IMF and Malawi government announced on Wednesday that the programme will help to support the southern African country’s troubled economy. “We will be recommending to the executive board in July to approve the $157 […]
In her maiden State of the Nation Address on 18th May 2012 President Joyce Banda, stated that as a first priority, her government is going to “launch a national austerity drive” by cutting government expenditure through a number of on-going measures. This is a very interesting policy that needs to be analyzed thoroughly as it can unlock a great potential that has been lacking in the Malawieconomy since the dawn of multiparty democracy. […]
Malawi’s Ministry of Labour officials have extended kudos to local staff members of Paladin’s Kayelekera Uranium Mine in Karonga district for their fearless approach in demanding from their employers what they believe is reasonable for them. The Malawian employees had been on strike since last week, May 11, demanding, among others, an immediate salary adjustment which […]
Malawi leader Mrs. Joyce Banda has appealed to world’s top eight richest countries, otherwise known as Group of 8 (G8) industrial nations, currently meeting in United States of America (USA), to help cure the country’s ailing economywith massive investment in a bid to accelerate recovery. Speaking in an exclusive interview which Nyasa Times monitored on BBC radio hours before […]
Malawi President Joyce Banda, in an effort to resuscitate the country’s rotten economy and overcome people’s poverty, has sketched out a number of austerity measures aimed at cutting back unnecessary government expenditure. The President also declared that there will be no honey moon for his ministers, government top officials and statutory corporation executives most of […]
Britain has approved a new country assistance plan for Malawi with the release of urgent funding of £10 million for the Malawi Health system and £20 million to help stabilize the economy which has been rocked with currency devaluation by alsmot 50 percent. “The International Development Secretary has agreed with the Governor of the Bank of England for […]
As we speak, people are weeping and wailing because the Malawi Government has devalued the over-valued currency the Kwacha, which was not backed by any foreign exchange reserves, nor any export commodities of note, save for tobacco. In the face of tobacco’s increasing poor performance, Malawi’s major source of foreign exchange are grants from bilateral […]
Malawi needs $1 billion in aid next year and is weighing devaluing its currency to boost its economy, President Joyce Banda said. “Our economy is in a state of disaster,” Banda told reporters on Friday in Lilongwe, the capital, adding that the country’s leading manufacturing companies were unable to import raw materials because they lacked […]
Malawi leader Mrs. Joyce Banda has faced rare criticism from some experts following her public declaration that Malawi kwacha would be devalued. The experts told newly launched The Business Times newspaper of Times group that such pre-emption could create panic resulting in parallel market taking advantage of the situation. Dalitso Kubalasa of Malawi Economic Justice Network (Mejn) […]
The Zambian government has come out to clarify on reasons leading to its donation of five million litres of fuel to Malawi during funeral of former president Bingu wa Mutharika, saying it is worried with the severity of Malawi’s challenges. Zambian deputy president Guy Scot told BBC Network Africa programme his country had always wanted […]
The head of the African Development Bank said on Sunday he is willing to provide $45 million in budget financing for Malawi to help new President Joyce Banda revive the struggling economy. Speaking after meetings of the International Monetary Fund and World Bank in Washington, African Development Bank President Donald Kaberuka told Reuters he was determined to […]
Southern Africa Development Committee (SADC) has pledged to continue the Malawi government with an aim of bailing out Malawi from various challenges the country is currently facing. The message has been passed through the Executive Secretary of the Committee Dr. Tomaz Augusto Salomao who visited the country on Monday to pay the last respect to […]
For the past two years, the country has experienced the persistence deteriorating in its economy. The inflationary rate was reportedly to have hit the double digits which had caused the rise in prices. The shortage of fuel, forex, and sugar are some of the indicators to the fall of the country’s economy. Following the demise […]
Malawi’s finance minister Ken Lipenga expects suspended international aid to be restored under its new president, Joyce Banda, helping prop up a budget increasingly under strain after the previous president picked fights with overseas donors, Reuters reported. According to the Reuters report, Lipenga on Monday said former President Bingu wa Mutharika, who died on Thursday […]
The first order of business in this article is to congratulate Her Excellency President Joyce Banda on her ascension to the highest public office in the Republic of Malawi, the Presidency, on April 8th., 2012. She thus becomes the first woman in Southern Africa; and the second woman in Africa as a whole, to do […]