BY ADMIN
The Reserve Bank of Malawi declared on March 20, 2024, that the RBM auction had caused a 3% decline in Kwacha. As a result, the 1 $D is currently trading at 1751 Malawi Kwacha.
Following its depreciation in 2023, the Malawian Kwacha has devalued three times now. A dollar was worth 1700 in 2023, when the Kwacha was devalued by 3% and 44%, respectively. This resulted in a rise in the price of necessities like sugar and maize.
True enough, the state of affairs in the nation is appalling, with daily reports of destitute grass roots robbing other people of their maize crops because they are starving.
Human rights organizations, citizens, and the Opposition party are still at odds over the president, Dr. Lazarus McCarthy Chakwera, and the Tonse government's alleged failure to address the economic hardships that Malawi's impoverished citizens are currently experiencing.
In response to the allegations, the Tonse Official stated that after the election won in 2020, they discover that the DPP has already signed fictitious agreements and disbursed funds for which there are no projects in existence. Therefore, the government is making every effort to address some of the issues that the previous government's DPP caused, like the high cost of borrowing money from outside the county.
The administration of Tonse said that there should be no crop production because of floods during their rule because of the several natural disasters that occurred, including storm Freddy, Canna, Gombe, and the COVID-19 pandemic. They added that the COVID-19 pandemic had directly affected people in the nation.
But the Questions are!!!
-Does the nation's populace have the right to hold the Tonse government and Chakwera accountable for their broken campaign pledges?
OR
"The public has to be aware of the circumstances surrounding the government's transition".
-Can we conclude that the nation's MPs are not cooperating with the government? and do they constitute the root of Malawians' problems?
-What remedy is required by the nation to assist its citizens?
-First statistical data & forth image of RBM was cited on RBM page.
-Second image was cited on The New Malawi page
Share your thoughts in the section below!!!!!!
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