Africa-Press – Malawi. The Director of Financial Markets at the Reserve Bank of Malawi (RBM), Chakudza Linje, has called on the private sector to step up efforts in producing and exporting goods to help the country generate foreign exchange, emphasizing that the Central Bank does not create forex—it only manages it.
Speaking at the RBM offices in Mzuzu on Monday, Linje addressed journalists under the Nyika Media Club, explaining how the 26% policy rate was determined by the Monetary Policy Committee (MPC).
“For a country to have foreign currency, it must export. As a Central Bank, our role in exports is very limited. The private sector is the engine of economic growth, and we urge businesses to enhance production in sectors that can generate forex to help address the ongoing foreign exchange challenges,” Linje said.
She also expressed optimism about lower inflation by year-end, citing good rains and expected bumper harvests that could drive food prices down. However, she warned against unfounded inflation speculations, saying they unnecessarily push prices higher.
“When there is speculation, there is a reaction—prices go up. Let’s be positive and base our discussions on facts,” she urged.
Nyika Media Club Chairperson, Feston Malekezo, echoed her sentiments, stressing the need for journalists to verify information, especially as elections approach.
“Fact-checking is an essential part of journalism. With elections around the corner, there will be a flood of information, and it’s our duty to ensure we present credible, truthful, and factual news,” Malekezo stated.
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