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The IMF mission chief to Malawi, Janet Stotsky, had urged the government authorities to quickly make significant adjustments in their macro and micro economic policies magazine would lead to the resumption of the programme. The report had also cited the recent reduced aid flows and an exceptionally poor tobacco market as some of the issues that had exacerbated the acute shortage of foreign exchange in the country. However, Mutharika had maintained that his administration would never devalue the kwacha, arguing magazine doing so would further hurt consumers in the country as prices of commodities and services would go up. Mutharika said devaluing the currency further would invite national economic depression and that he would not buy economic orthodoxies that would hurt Malawians. The President said he had maintained a stable kwacha in his rule. Economic magazine have been attributing the overvalued kwacha to the current forex shortages the country is experiencing. But Mutharika had said the persistent forex shortage problems were largely because of foreximf investors who were externalising money and opening offshore accounts rather than banking locally. He singled out international chain stores like Shoprite, Game Stores and Mr Price and some banks he did not name, as investors that have caused the forex shortage, which has subsequently led to the current fuel crisis. Officials of the chain stores declined to comment on the accusations. I want you foreximf be in control of forex to protect this country and not the IMF. Local economists are divided, with some arguing that devaluing the local currency would help solve foreign exchange shortage as people would be forced to shun the black market, whose rates are higher than those of commercial banks. I always wonder why Malawi is sticking to them while many countries are abolishing them. Chanthunya, however, said devaluation will still take place sooner or later, magazine it would push up prices for various commodities and services. Reserve Bank director magazine governance Ralph Tseka said the Ministry of Finance was still weighing what options to take. African Business and its award-winning team is widely respected for its editorial excellence. We provide the all important tools enabling you to maintain a critical edge in a continent that is changing the world. Our special reports profile a wide range of sectors and industries including Energy, Oil and Gas, Aviation, Agriculture to name but a few. African foreign investment projects fell by A joins RES4MED Renewable Energy Solutions magazine. If you would like Independent, Informative and Invaluable news analysis on the African continent, delivered straight to your inbox, join our mailing list. For over foreximf years New African provides unparalleled insights and analysis on African politics and economics, via an African perspective. With our in-depth monthly reports, New African brings Africa closer to the world and is ideal foreximf for those looking to gain a better understanding of the most important issues affecting Africa. It is a colourful lifestyle magazine dedicated to providing in-depth coverage foreximf fashion and beauty, health and wellbeing, parenting and family, and much more. IC Events has established itself as one of the leading organisers of African business, magazine and political events. From foreximf workshops to large awards ceremonies, our events are recognised as some of the premier fixtures on the international calendar, and provide an excellent opportunity to network with the current decision makers and leaders from around the world. 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Opinions divided Local economists are divided, with some arguing that devaluing the local currency would help solve foreign exchange shortage as foreximf would be forced to shun the black market, whose rates are higher than those of commercial banks. Written by African Business Magazine African Business and its award-winning team is widely respected for its editorial excellence. Related Posts African FDI, job creation down in amid mixed sector picture African foreign investment projects fell by Join our mailing list If you would like Independent, Informative and Invaluable news analysis on the African continent, delivered straight to your inbox, join our mailing list. GE's Future of Work. IC Publication's Sister Sites NA New African For over 45 years New African magazine unparalleled insights and analysis on African politics and economics, via an African perspective.
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