malawi bulletinDalitso Kabambe

By Nganati

Former Reserve Bank of Malawi (RBM) Dr. Dalitso Kabambe has schooled President Lazarus Chakwera to stop celebrating from borrowed money

Dr. Kabambe was speaking during the press conference that former Malawi President and opposition Democratic Progressive Party (DPP) Peter Mutharika held at his base, Page House in Mangochi on Friday, November 17, 2023.

Mutharika’s presser aimed at giving the nation hope following 44% of Malawi’s Kwacha devaluation.

On his take, Kabambe who is also a DPP Presidential aspirant was surprised with Chakwera’s Tonse Alliance government celebrating approval of the International Monetary Fund (IMF)’s Extended Credit Facility (EFC) when the country is still locked in huge debts of over MK9 trillion.

ECF approval came after the same Chakwera canceled the program in 2020 soon after assuming office siting new government policy change.

“There is no pride in begging! Celebrating what you have been given from begging removes one’s pride!” schools Dr. Kabambe

He however tipped Chakwera’s Tonse Alliance administration to focus more on production for Malawi to sustain its foreign reserves.

He suggests promoting increased production to satisfy global demand for tobacco as one way to generate more forex.

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