Search
  1. Home
  2. Southern Africa
  3. Malawi

Government dismisses currency devaluation rumours

    JOHANNESBURG

    The Malawi government has dismissed media reports that the country’s currency, the kwacha, is going to be devalued after the 15 June general elections. Agriculture minister Aleke Banda, chairman of the Cabinet Committee on the Economy, said a combination of donor in-flows, prudent government expenditure controls and healthy foreign exchange earnings from tobacco will ensure the kwacha remained stable in the near future.

    “There is always speculation about a devaluation of a currency in the run-up to an election but I can assure you there won’t be any devaluation,” media reports quoted Banda as saying.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

    Share this article

    Our ability to deliver compelling, field-based reporting on humanitarian crises rests on a few key principles: deep expertise, an unwavering commitment to amplifying affected voices, and a belief in the power of independent journalism to drive real change.

    We need your help to sustain and expand our work. Your donation will support our unique approach to journalism, helping fund everything from field-based investigations to the innovative storytelling that ensures marginalised voices are heard.

    Please consider joining our membership programme. Together, we can continue to make a meaningful impact on how the world responds to crises.

    Become a member of The New Humanitarian

    Support our journalism and become more involved in our community. Help us deliver informative, accessible, independent journalism that you can trust and provides accountability to the millions of people affected by crises worldwide.

    Join