May 7th, 2013

Malawi: 4 thieves burned to ashes in a week; IMF reforms?

Posted on 07 May 2013 at 1:07pm

Malawi’s President Joyce Banda has had 12 tumultuous months since she took office in April last year.

She has attempted to right Malawi’s economy by devaluing its currency, giving herself a 30 percent pay cut and proposed to offload a fleet of Mercs for her 35 member cabinet.

But the economy has continued to sputter despite the reforms although central bank Governor Peter Chuka has remained optimistic that the economy will start to stabilize from mid 2013.

Commodity prices have gone up and pushed inflation to 36.5 percent in March; higher than the IMF forecast.

Since she took over, the cost of living in urban Malawi for a family of six now needs…

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