World Bank denies dictating Malawi on financial matters

The World Bank office in Malawi has rejected accusations by some Civil Society Organisation (CSOs) that the institution was dictating Malawi on financial matters.

Human rights campaigner Billy Mayaya together with Bright Kampaundi and Fryson Chodzi of Forum For National Development, during a news conference  over the weekend questioning the World Bank and International Monitory Fund (IMF)’s real interests on the controversial sale of Malawi Savings Bank (MSB) saying neo-colonialism tendencies to a sovereign state like Malawi were not welcomed.

But World Bank Communications officer, Zeria Banda for Malawi’s Office, trashed the allegations as misplaced.

She explained that the World Bank’s role on countries was advisory for fiscal discipline.

“The bank is here to give fiscal discipline direction towards countries economic growth,” said Banda.

“So, it’s up to individual countries to take such advices or not. Our institution has never dictated the Malawi government on this matter only giving the positive direction that the interests of poor Malawians must addressed,” she added.

The bank denied having any special interests on the sale of MSB calling the activists comments as “smearing” to score their hidden agenda.

“World Banks is a reputable organisation which must be respected and appreciated on the role it playing for the development of this country”, said Banda

The activists are calling on President Peter Mutharika to completely cancel and not suspend the sale of the bank in accordance with the wishes of the people of Malawi by recapitalising the MSB with required MK5 billion.

They also want the President to initiate an audit of the entire process of the dubious sale of the bank including a probe into individuals and institutions involved.

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