Reserve Bank of Malawi (RBM) Governor Dr Perks Ligoya has disclosed that the International Monetary Fund (IMF) “high powered team” will be coming in the country in December to help reform the exchange rate and look at devaluing the Kwacha currency. IMF wants Malawi to further devalue the kwacha and liberalise foreign exchange before resuming the […]
Preamble: Malawi is this year running on a budget dubbed a “zero deficit budget”. Supposedly a road map to economic independence, it is causing untold misery on the masses while its champion – the President – can afford a long holiday in Hong Kong. The president’s men are also dreaming in colour, spending lavishly on […]
The Reserve Bank of Malawi (RBM) is coming up with two parallel stands regarding the position of the country’s foreign reserves. In its publications the central bank says Malawi has $425 million of foreign exchange reserves, which means 3.29 months of import cover. But when put on the spot by the media this week, RBM’s […]
Condemnations continue to pour on the Reserve Bank of Malawi (RBM) for spending almost US$250,000 (K43 million) to build a swimming pool at the Governor’s official residence in Lilongwe. Published reports said over US$200,000 (K36 million) of this amount has already been spent on the project which is nearing completion. Opposition UDF top official Humphrey […]
Reserve Bank of Malawi says the country has been hit by counterfeit money especially targeting biggest bill of 500 kwacha, has since put a K50 000 rewards if anyone will come forward with information leading to the people behind the syndicate dealing in fake money, promising that all information received from well wishers will be kept […]
By Funny Chipala, Nyasa Times Reserve Bank of Malawi has set both luring and harsh conditions as a compensation to devalue the kwacha against the green-buck by 10 percent. The private sector and the donors cried for it, but the central bank has tied a price to the much anticipated devaluation of the local unit. […]