Motion Mr. Speaker, Sir, and Honourable Members, I beg to move that this House debate the Supplementary Estimates of Recurrent and Development Accounts for the 2012/13 Fiscal Year and that the estimates be referred to the Committee of the Whole House, to consider them Vote by Vote, and that thereafter, they be adopted. INTRODUCTION Mr. […]
Minister of Finance Ken Lipenga has cleared what he calls “misunderstanding” on an exchange rate system, saying it is currently determined by market forces of supply and demand. Recently, a former minister of Finance as well as Economic Planning and Development and ex-Reserve Bank of Malawi (RBM) governor, Professor Matthews Chikaonda during a public debate […]
The World Bank board of executive directors has approved to release its new Country Assistance Strategy (CAS) to support Malawi’s effort to diversify the economy with US$ 695 million (about K245 billion) package. In a statement made available to Nyasa Times on Wednesday, the World Bank said the assiatnce will cover the period of 2013 […]
Proponents for continued floatation of the Kwacha are her Excellency President Joyce Banda, advised by the Reserve Bank of Malawi (RBM) and supported – in no small way – by the Malawi Confederation of Chambers of Commerce and Industry (MCCCI). Please note that her Excellency President Joyce Banda has never claimed – at any fora – to […]
Malawi’s former finance minister Friday Jumbe is challenging President Joyce Banda’s administration to highlight the economic achievement it claims has been registered after the introduction of the much-touted Economic Recovery Plan (ERP). Jumbe, who is also the president of the newly formed New Labour Party, was reacting to a statement from Finance Minister Ken Lipenga that […]
The International Monetary Fund (IMF) managing director Christine Lagarde is expected to visit Malawi early next month for a two-day consultative mission. The IMF boss is expected to hold a number of consultative meetings with the President Joyce Banda and her cabinet among others. Finance Minister Ken Lipenga confirmed the development on Tuesday, according to […]
The Governments of Malawi and Ireland have signed a Memorandum of Understanding (MoU) for support to a social cash transfer programme and for replenishment of the strategic grain reserves. Speaking during the signing ceremony on Monday in Lilongwe, Ireland Ambassador to Malawi Liz Higgins said the MoU will allow the National Food Reserve Agency (NFRA) […]
Finance Minister Ken Lipenga says the donor support that has been flowing in, coupled with Malawi government’s initiative of food distribution will help stabilize the economy. Lipenga made the observation on Wednesday on the sidelines of the signing of the MK4.5bn Framework Agreement for the Debt Relief and Development Contract between Malawi and France which […]
A legislature for one of Malawi’s main opposition Malawi Congress Party (MCP) on Tuesday told one of the country’s senior Cabinet Ministers to shut his mouth and stop unnecessarily commenting in the House on issues that involve other ministries and has little knowledge of. The MCP parliamentarian for Lilongwe Mapuyu south Joseph Njobvuyalema, who is […]
Malawi’s dream to have 60 million litres fuel reserves seems to be taking shape following government’s tabling in Parliament of a loan authorisation bill in which it is seeking to borrow US$76.5 million from the Export-Import Bank on India of which which part of the money would be used to fund the reserves to be […]
Malawi Parliament on Wednesday suspsended the motion for the confirmation of Anderson George Kuligomba as Auditor General following the retirement of the previous office holder Reckford Kampanje in August. Finance Minister Ken Lipenga moved a motion to ask the House approve Kuligomba, who was appointed by President Mrs Joyce Banda to replace Kampanje at the National […]
Malawi Parliament on Monday authorised government to borrow US$10 million (almost K3 billion) from the Arab Bank for Economic Development in Africa (Badea) to fund some of its projects in the Green Belt Initiative. The loan authorisation Bill which appeared as number 28 of 2012 was the first to be passed after the House resumed […]
Malawi has been ranked at 157 out of 183 countries the World Bank assessed in its 2013 Business Indicator. Dr. Andrew Mwaba, who is African Development Bank (AFDB) Resident Representative in Malawi Country office, disclosed this on Thursday. He said this when AFDB held its two day Business opportunity Forum and Competitiveness seminar for the […]
The state-of-the-art 40,000 seater stadium project in Malawi’s capital, Lilongwe has received a boost after the Governments of Malawi and China have signed a framework agreement on provision of concessional loan on the construction of the facility. The new sports arena billed to be of high-tech Olympic standard, is expected to be completed in two years. China […]
Development partners under the Common Approach to Budgetary Support (CABS) on Monday faulted the previous government’s Zero Deficit Budget (ZDB) for the country’s economic downturn. Speaking at the first CABS review meeting in Lilongwe, Norwegian Ambassador Asbjorn Eidhammer, who is CABS co- Chair blamed the previous administration for the difficulty times that Malawians were going […]
Ireland has given Malawi government 350 thousand Euros (about 135 million Malawi kwacha) for financing of the Anti-corruption bureau to implement the National Anti Corruption Strategy as well as for farm input subsidy programme . Speaking at the signing ceremony the Irish ambassador Liz Higgins said 135 million has been set aside for the monitoring of the […]
Malawi Kwacha is still struggling on the market though tobacco sales which are a major source of the country’s forex have just been closed. According to the National Bank of Malawi’s Economic Newsletter released in September, the country is still struggling to match with other foreign currencies. An Economist working at the National Bank of […]
Out of seven key donors who provide budgetary support to Malawi, only two have so far released their aid totalling K22.9 billion (US$90 million) from the required K124.08 billion needed for the 2012/2013 financial year. Business Times reported on Wednesday that the two donors that so far have unfrozen their aid to Malawi are the […]