Forex Shortage Triggers Cost-of-living Crisis in Malawi
Oct 20, 2023 ·
50s
Malawi’s central bank devalued the kwacha by 25 per cent last May to stabilise dwindling forex reserves. John Kapito, executive director of the Consumers Association of Malawi, says the worst...
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Malawi’s central bank devalued the kwacha by 25 per cent last May to stabilise dwindling forex reserves.
John Kapito, executive director of the Consumers Association of Malawi, says the worst is yet to come.
He added that the country has failed to balance its imports against exports and has relied heavily on donors for its forex reserves.
He added that the government's revenue collection has drastically gone down as a result of market inactivity and currently struggling to pay for its oversized civil service.
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John Kapito, executive director of the Consumers Association of Malawi, says the worst is yet to come.
He added that the country has failed to balance its imports against exports and has relied heavily on donors for its forex reserves.
He added that the government's revenue collection has drastically gone down as a result of market inactivity and currently struggling to pay for its oversized civil service.
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