Editorial: Mr. President, why spare the Finance Minister and Treasury Secretary from being fired too?

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Editorial: Mr. President, why spare the Finance Minister and Treasury Secretary from being fired too?
Editorial: Mr. President, why spare the Finance Minister and Treasury Secretary from being fired too?

Africa-Press – Malawi. The firing of Reserve Bank Governor Wilson Banda is being heralded as a bold move by President Lazarus Chakwera to “tighten the grip” on fixing Malawi’s ailing economy. Yet, this decision raises a glaring question: if Banda was sacked for his alleged failures, why have the Finance Minister, Simplex Chithyola Banda, and Secretary to the Treasury, Betchani Tchereni, been spared the same fate?

The Reserve Bank Governor operates within a broader framework of fiscal and economic management, one that is largely shaped by the Ministry of Finance and Treasury. To lay all the blame for Malawi’s current economic malaise solely on Banda is both simplistic and hypocritical.

Under Banda’s tenure, inflation soared to unprecedented levels, the kwacha endured brutal devaluations, and Malawi faced persistent forex shortages. While these issues are damning, they cannot be viewed in isolation from the Finance Ministry’s fiscal policies or the Treasury’s stewardship.

The Finance Minister has presided over unsustainable public borrowing, with debt servicing now consuming a staggering chunk of our national budget. Meanwhile, the Treasury has failed to institute reforms or curb rampant mismanagement of public funds. This trifecta of monetary and fiscal chaos has left Malawians poorer, businesses crippled, and investors wary.

If the Reserve Bank Governor is being shown the door for “failing to execute policies,” then surely those who are responsible for formulating those policies—namely the Finance Minister and the Secretary to the Treasury—must also shoulder the blame. Are we to believe that these individuals are blameless while the Governor bears the full weight of Malawi’s economic failures?

The truth is, Banda was likely a scapegoat. His sacking appeases public frustration without addressing the systemic issues plaguing our economy. It is a political maneuver, not a genuine attempt at reform.

President Chakwera has repeatedly promised decisive leadership and accountability. Yet, his administration seems to apply these principles selectively. If incompetence and poor performance are the yardsticks for dismissal, then the Finance Minister and Treasury Secretary must not be spared. Their roles are integral to economic stability, and their failures are as glaring as Banda’s.

The President owes Malawians an explanation: why stop at Wilson Banda? Why should those who preside over fiscal recklessness, failed reforms, and unmitigated corruption remain untouchable?

If Malawi is to rise from its economic abyss, we need more than scapegoating; we need genuine accountability across the board. This requires bold leadership willing to make hard decisions—not just against one man, but against an entire apparatus of dysfunction.

Mr. President, the people of Malawi are watching. Your decision to spare the Finance Minister and Treasury Secretary undermines the credibility of your economic reforms and sends a dangerous message: that loyalty, not competence, determines survival in your administration.

It’s time to match rhetoric with action. If Wilson Banda was fired for failing the economy, then let the axe fall equally on all those whose policies and decisions have contributed to this mess. Anything less is a disservice to Malawians.

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