Malawi Kwacha, which is trading at its lowest levels, has slightly firmed against three major foreign currencies, Reserve Bank of Malawi (RBM) report indicates. The central bank indicated in its latest financial market development report, that the Kwacha currency has appreciated against the United States dollar, British pound and South Africa rand, but has marginally […]
Malawi has reduced petrol and diesel prices . Nyasa Times understands that the cut is in response to continued appreciation of the kwacha. Malawi Energy Regulatory Authority (Mera) official said they dropping the price of petrol which will be selling MK694 from MK715 and diesel will be at MK677 from MK693.5 in what can be considered as great […]
President Joyce Banda led the commemoration of the Labour Day in Malawi by reiterating her faith in the fundamentals of her economic policies which have seen the country’s bill stabilizing. Speaking when she presided over the commemorative celebrations at Kamuzu Stadium in Blantyre, President Banda said that the stabilization of the Kwacha provides the framework […]
Former First Lady, Calista Chapola Mutharika, came out of her cocoon and took a swipe on President Joyce Banda, blaming her for ‘grossly’ failing to rule the country and putting Malawians in deep misery beyond reach. She was guest of honour at Pastors Voices Fraternal conference at Assemblies of God Church in Chemusa, Blantyre on Saturday […]
Malawi’s kwacha, the worst- performing currency this year, dropped to its lowest in almost a decade as the Southern African country’s reserves continue to dwindle. The kwacha retreated 3.6 percent to 360 a dollar at 5:20 p.m. in Lilongwe, the capital, according to data compiled by Bloomberg. It has fallen 7 percent this year and […]
Malawi’s central bank maintained its benchmark interest rate at 25 percent, a six-year high, as it maintains its fight against inflation, the monetary policy committee said. The decision was based on “the need to allow more time for the recent monetary tightening to work through the system,” the Reserve Bank of Malawi said in a statement published […]
Malawi’s former minister Dr George Chaponda, who is opposition Democratic Progressive Party (DPP) leader in parliament , has faulted President Joyce Band and her government for the poor implementation of the Kwacha currency devaluation. Chaponda, who has served as minister in various portfolios for the past eight years, said in the House on Tuesday that […]