Africa-Press – Malawi. Paying attention from opposition Democratic Progressive Party (DPP) Blue night fundraising dinner’s speech made by Professor Peter Mutharika, the party should consider an economic expert within DPP for presidential candidate ahead of 2025 Malawi polls.
Muntharika lamented that Malawi’s economy is in a mess under President Lazarus Chakwera’s Tonse Alliance government three years in power. Mutharika who was speaking during Blue night at Mount Soche Hotel in Blantyre, hinted that for the party to bounce back it needs finances, strong candidate and sound manifest.
DPP leader says delegates at the party’s convention need to vote for a right candidate to represent the party in the next polls. He says the party needs to have a candidate who is wise and understands how to govern the nation with economic sound minds to turn Malawi’s ailing economy.
Who is this presidential candidate with economic sound?
Among DPP presidential hopeful ahead of July 2023 elective convention, former Reserve Bank Governor Dr. Dalitso Kabambe an former Finance minister Joseph Mwanamvekha are right candidates.
Coincidentally both Kabambe and Mwanamvekha have contributed each MK5 million to the event. However, Kabambe fits all considering excellent monetary policy direction he instilled at Reserve Bank of Malawi as governor.
Three years down the line since 2020, after Dr. Kabambe was removed from RBM, the bank has lost its monetary policy direction despite several desperate attempts to align itself with the International Monetary Fund (IMF), World Bank and other financial institutions’ monetary discipline and policies.
Chakwera’s Tonse Alliance government could have waited a bit for proper leadership transition before sacking the intellectual and monetary figurehead of Dr. Kabambe at the Central Bank.
RBM is struggling currently due to amateurish and experimental approach of monetary policy. Ukraine and Russia war, climate change and weather shocks and COVID-19 remain an excuse for the current ailing economy while previous regime managed to contain the monetary disarray.
The bank is failing to maintain inflation, exchange rate stability, and foreign exchange reserves cover for the past three years. Malawi needs the caliber of Dr. Kabambe with sound monetary policy skills to turn fortunes at the central bank and Malawi without political eye beyond 2025.
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