Whats in store for the Malawi economy

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 of the late president Bingu wa Mutharika,  Madam Joyce Banda on Saturday evening 7th April was sworn in as the president of Malawi. This article looks at whether following her succession her excellence Madam Joyce Banda will manage to elevate the state of the Country’s economy in the remaining time that has left for her.

The president Joyce Banda has taken the office at a time when Malawi is facing huge problems to do with the economy. However she has no excuse of not doing her job as whether she took the country at wrong time or not, she has to deliver some good deeds besides the situation the country is in.

Malawi fuel crisis expected to ease

The problems Malawi is facing were worsened when the donor countries withheld their donor support that have since our democracy in 1994 been rendering to the country. Countries like Britain and America were the main donors to Malawi. The International monetary Fund (IMF) and World Bank both withheld their funding.

Some of the reasons behind the withdrawal were issues of poor governance, devaluation of kwacha and none improvising of minority rights (gays) which the late president Bingu Wa Mutharika adamantly refused to promote.

Economic experts have described the devaluation as harmful since prices of goods and services are expected to rise thereby making life hard for the ordinary Malawians.

The big question is, will the incumbent president madam Joyce Mtila Banda in trying to restore Malawi to its state of economy allow the promotion of gays in the country which Britain among other countries are fighting for? Will she devalue the local currency and put the lives of poor Malawians under threat? If not, Malawi should count Britain off. However, it is obvious that if the president allows gays in the country, she should count herself doomed for the 2014 general elections.

Some of the things that are obviously to be maintained by the president Joyce Banda are the fertilizer subsidy program which is the main contributor to our economy and some other bilateral relationships with foreign countries and donors.

The public is waiting with much anticipation as to whether the president will come up with good plans on how to elevate the country’s economy rather than bowing down to Britain and America wishes to promote the gay rights.

There is dire need for the current president to mend good relations with the donor countries in order to redeem the current economic crisis in the country. But what should the president do? I caught up with some people in the streets to hear their views.

Onani Kamanga, a business man said Joyce Banda as a Christian should not bow down to Britain and America’s wish but rather as a country, we should all come together as one in finding the solutions to the current scenario.

Mr Jona Banda is in disagreement with Onani Kamanga and said the only way is to allow gays in the country. “I think since the country is a shambles, there is need to just allow the gays because losing Britain has proved to be the worst thing to have happened in the country.”

For the economy of the country to be stable, there is need for the incumbent president to restore bilateral relationships with donors for them to open their tap and support the country.

 

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