Malawi: Forex Is Coming, but Devaluation Isn't - RBM Governor Draws the Line

Malawi: Forex Is Coming, but Devaluation Isn't - RBM Governor Draws the Line

In a bold and reassuring message to Malawians, Reserve Bank of Malawi (RBM) Governor Dr. MacDonald Mafuta Mwale has declared that foreign exchange is on its way, but made it clear that devaluation of the kwacha is not the answer to the country's economic challenges.

IMF team in tomorrow for talks

Reserve Bank of Malawi (RBM) Governor MacDonald Mafuta Mwale says an International Monetary Fund (IMF) delegation will arrive in the country tomorrow for discussions with Malawian authorities. The scheduled visit comes a week after the lapse of Malawi’s four-year $175 million Extended Credit Facility (ECF) after going 18 months without a review as per an IMF update. In an interview on the sidelines of the two-day Public Affairs Committee (PAC) S…

Reserve Bank Governor Flags Social Media as New Inflation Influencer, Rules Out Further Kwacha Devaluation

Reserve Bank of Malawi Governor Dr. Mafuta Mwale has highlighted social media speculation as a modern challenge influencing inflation, saying it is an issue he was never taught in economics school. Speaking  during Public Affairs Committee (PAC) all-inclusive meeting in Blantyre, Dr. Mwale said traditional economic models do not account for the impact of misinformation and speculation spreading rapidly online. “I was told in school that when inf…

Forex is Coming, But Devaluation Isn’t: RBM Governor Draws the Line

In a bold and reassuring message to Malawians, Reserve Bank of Malawi (RBM) Governor Dr. MacDonald Mafuta Mwale has declared that foreign exchange is on its way, but made it clear that devaluation of the kwacha is not the answer to the country’s economic challenges. Speaking during the Public Affairs Committee’s 6th All-Inclusive Stakeholders Conference […] The post Forex is Coming, But Devaluation Isn’t: RBM Governor Draws the Line appeared fir…