Ears of Malawians will tomorrow evening be glued to the public broadcaster – Malawi Broadcasting Corporation (MBC) – to hear what President Dr. Lazarus McCarthy Chakwera and his government plan to do to cushion them from the effects of the devaluation.
Six days ago, the Reserve Bank of Malawi (RBM) announced a 44 percent realignment of the kwacha against the United States dollar (US$).
The central bank said the devaluation was aimed at correcting supply-demand imbalances in the forex market. The fall of the local currency against leading global currencies has ignited rise in prices of goods and services.
The Minister of Finance and Economic Affairs Simplex Chithyola on Monday outlined a number of measures to cushion poor Malawians from the shocks arising from the recent 44 percent devaluation of the currency.
However, most Malawians would be expecting President Chakwera to touch on the matter as he addresses the nation from 7pm tomorrow.
Presidential Press Secretary Anthony Kasunda, in a statement shared with the media on Tuesday, said “President Chakwera will address the nation on matters of national interest.”
“The address will be broadcast live on Malawi Broadcasting Corporation platforms and other media channels,” reads the statement in part.