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Reading: Malawi President Lazarus Chakwera bans foreign trips 
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AfricaNews360 > Politics > Malawi President Lazarus Chakwera bans foreign trips 
PoliticsTop Stories

Malawi President Lazarus Chakwera bans foreign trips 

Malawian President Lazarus Chakwera suspends with immediate effect all international travel for himself and his government in a bid to save money.

Posted Africanews360 November 16, 2023 2 Min Read
Updated 2023/11/16 at 1:04 PM
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Malawian President Lazarus Chakwera suspends with immediate effect all international travel for himself and his government in a bid to save money.

The measure follows a huge devaluation of the currency as Malawi secures a loan from the International Monetary Fund (IMF) to boost its ailing economy.

Chakwera has also ordered all ministers currently abroad to return home and fuel allowances for senior government officials have been cut by 50%.

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The country has been suffering from acute shortage of petrol and diesel, as well as high inflation.

The president in a televised address, said the measures would remain in place until the end of the financial year in March 2024.

Similar measures were announced during the Covid-19 pandemic but had limited impact as they were not strictly enforced.

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As part of moves to curb the cost-of-living crisis, the president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.

He has also ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.

The IMF has approved a four-year credit facility worth $174m (£140m), just days after Malawi’s central bank announced the devaluation of the kwacha by 44%.

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Officials have blamed the economic downturn on external factors, such as a devastating cyclone earlier this year and the war in Ukraine.

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TAGGED: Foreign travels, Lazarus Chakwera, Malawi president
Africanews360 November 16, 2023
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