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Monday, February 3, 2025
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HomeLatestMalawi's economy is crashing, and government is here to blame

Malawi’s economy is crashing, and government is here to blame

By: Dr. Alex Banda

Malawi is burning, and the government is standing by, watching the flames grow higher. The World Bank has declared it: efforts to fix the economy have “faltered.” MCCCI confirms it: “Discussions are not bearing fruit.” The UK warns it: “Forex is not available.” But instead of bold action, we get empty statements. “We are working tirelessly,” says the government — working tirelessly to do what, exactly? Drive the country into the ground?

Pierre Raad of the World Bank couldn’t be clearer: “Without undertaking reform actions, the pain will grow.” The pain is already here. Farmers can’t buy fertilizer. Manufacturers can’t import materials. Businesses are shutting down. Prices of basic goods are rising beyond the reach of ordinary citizens. Yet the government continues to sleepwalk through crisis after crisis, hoping things will fix themselves.

This is failure, plain and simple. And the root of it is clear: no reforms, no strategy, no accountability. High debt, a collapsing currency, and a paralyzed forex system are choking the life out of this economy — and the government is responsible. Corruption remains rampant. Politically sensitive subsidies remain untouched. Fiscal discipline is non-existent.

MCCCI’s Chancellor Kaferapanjira hit the nail on the head: “The time for talking is over.” Malawi needs action, now. Cut the waste. Implement structural reforms. Diversify exports beyond tobacco. Tackle corruption head-on. Stop feeding us promises and start delivering results.

This is a national emergency. If the government doesn’t act immediately, it will go down in history — not as a leadership that tried and failed, but as one that refused to act and watched the nation collapse.

The time is up. Enough excuses. Fix this mess, or step aside.

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