Malawi president struggles to stabilise foreign exchange
By the AFREEQUE newsroom, based on Malawi24
Malawian President Arthur Peter Mutharika says stabilising foreign exchange is the most difficult of his government’s four priorities. His administration is discussing a possible resumption of the Extended Credit Facility with the International Monetary Fund and the World Bank, which could provide resources to the country, according to the Malawi Broadcasting Corporation.
Malawi President Arthur Peter Mutharika acknowledges that stabilising foreign exchange remains the most difficult of his government’s four priorities. He said this in an interview with the Malawi Broadcasting Corporation, as his administration seeks to revive the country’s economy.
In its first year in office, the government made progress on food, fuel, fertiliser and foreign exchange, Mutharika said. However, he acknowledged that difficulties persist with the supply of foreign exchange and fuel. The president added that several factors complicate the availability and stability of foreign currencies.
This challenge comes amid an economic recovery that Mutharika has already described as difficult. Malawi rules out devaluation of its currency.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
