The Reserve Bank of Malawi (RBM) has dismissed as false, reports circulating on social media that the International Monetary Fund (IMF) has advised the government to devalue the Malawi Kwacha by 60 percent.
“The report is completely false and should be ignored,” said RBM Governor, Dr. Wilson Banda, in a statement released today. “There are no plans to devalue the Malawi Kwacha.”
The Bank appealed to the public to rely on official sources for information on monetary policy, warning against creating and circulating false reports that can cause unwarranted speculation, panic, and uncertainty in the economy.
Dr. Banda emphasized, “The general public is reminded to look up to the Reserve Bank of Malawi for accurate information on matters of monetary policy.”
The RBM’s swift response aims to calm market nerves and reassure the public that the Bank is committed to maintaining economic stability.
