World Bank tells Malawi to end political impasse

A senior World Bank official says the current political impasse in the country has negative effect on the economy.

Bella Bird, World Bank country director for Malawi, Tanzania, Burundi and Somalia told journalists on Wednesday after meeting President Peter Mutharika that politics affects the economy.

“It is obvious that the current political situation is having a negative impact on the economy,” said Bird.

She said among others, investors would not be willing to invest in a volatile political situation because that would be risky for their money.

Meeting the country director at Sanjika Palace in Blantyre, Mutharika blamed the opposition and civil rights activists the Human Rights Defenders Coalition (HRDC) for the current political stand-off.

“The demonstrations are slowing the country’s economy. This is two steps forward and three steps backward. All in all I believe in rule of law and peace because my interest is to transform Malawi’s economy,” the President pointed out.

He, however,  told the World Bank official that his government would not retaliate, saying it would instead concentrate on developing the country as well as growing the economy.