HomeBusiness and FinanceAtupele Muluzi, Joshua Chisa Mbele denounce politicization of kwacha devaluation

Atupele Muluzi, Joshua Chisa Mbele denounce politicization of kwacha devaluation

United Democratic Front (UDF) leader Atupele Muluzi and socio-political activist Joshua Chisa Mbele have denounced the tendencies by opposition political parties to politicize devaluation of the Malawi Kwacha against major currencies such as the United States of America (USA) dollar.

The Reserve Bank of Malawi (RBM) on Thursday announced the devaluation of the kwacha from MK1,180.29 to MK1,700 against a dollar.

While the main opposition Democratic Progressive Party (DPP) took to town accusing the incumbent government, led by President Dr. Lazarus McCarthy Chakwera, of being reckless and insensitive to social and economic problems citizens are going through at the moment, Muluzi and Chisa Mbele, including economic experts such as Betchani Tchereni, described the devaluation as a necessary evil Malawians are supposed to accept.

The duo therefore described the criticism directed at President Dr. Lazarus McCarthy Chakwera and his administration as misplaced.

In his Facebook post on Friday, Muluzi said Malawi is in the unfortunate economic situation because of “multifactors from the past, beyond the control of even the wisest of our leaders”.

Atupele: Let’s not play blame games

“We should not get into the blame game, nor fall into chaos & confusion. Instead, with clear vision and firm resolution, we will focus on fundamental lasting changes, based on introducing and implementing a series of solid programs of effective domestic wealth generation,” said the young Muluzi.

On his part, Chisa Mbele called for an end to cheap politics being played by the opposition parties.

He wondered where DPP was when former President Joyce Banda became the President and devalued the currency with 50 percent.

“Dr Kabambe has had an impressive and colourful Cv. Where was he when Joyce Banda took over? Which administration perpetuated Cashgate? Joyce Banda might have changed Ministers but the entire civil service was Blue,” he argued.

Continued Mbele: “Point: Devaluation decision is not a cheap political stunt to score political points. We have two critical issues in this country to take care of:

(a) The ailing economy which is in a comma.

(b) The poorest of the poor who happen to be the majority of our population.

The Kwacha will either fall further on its own or it will regain the losses if we reform the economy.

In 1980s the Zambian Kwacha was less than a paper it was printed on. The Shops were empty. No Fanta. No Coca Cola. No Sobo.

It takes men of courage to accept the truth and change the discourse.

Stop politicising the medication. 

We will struggle, yes. No question about it BUT there is no shortcut to heaven. You have to die first. Pass through the valley of dry bones.”

Meanwhile, psychologist Professor Chiwoza Bandawe has advised Malawians to accept and embrace devaluation as an economic medication they need to heal from the social and economic problems they have been suffering even before Chakwera assumed the presidency.

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