he country’s central is assuring the nation that the country has forex cover of two months and this will soon be boosted with the opening of tobacco markets. The assurance comes as the country continues to see a decline in foreign exchange supply which has in turn put pressure on the country’s foreign exchange reserves. […]
The Malawi currency, the kwacha, has been losing value against all major world currencies, according to published report. Reserve Bank of Malawi spokesman Ralph Tseka confirmed that the depreciation, saying it is within a set band where the kwacha is officially allowed to fluctuate. He commented after Business Times had observed from the market that […]
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 […]