Africa-Press – Malawi. President Lazarus Chakwera Tonse Alliance government is grappling with economic volatility amid plenty of intellectual minds who could move mountains for a better Malawi. Look the composition of Tonse Alliance big brains if put to use, Malawi could not be into the current economic mess.
During the campaign for 2020 Presidential elections, Chilima was all over telling the nation that once voted into power, as Finance Minister would make economic policies to envigorate production for exports.
Chilima was initially given an economic planning portfolio in the early days of the Tonse Alliance administration before he was stripped to nothing. Currently, Chilima is just a poster in Chakwera’s Tonse government while being engaged on petty functions, events.
If Chilima could handle Minister of Finance, was Malawi to be in this state? Why did Chakwera fail to appoint Chilima as Finance Minister as promised in 2020 Presidential Elections campaign?
Firstly, Chakwera fears of his political future; 2025 Presidential bid that if Chilima was given the portfolio by now he could get people’s trust. Remember, Chilima became popular amongst electorates due to his public reforms which till now Chakwera is sitting on them.
Secondly, Chakwera’s inner circle did not want Chilima closer to visible power execution as that he would strengthen his political prowess for 2025. Chakwera has hired three Finance Ministers in three years including Felix Mlusu, Sosten Gwengwe, and now Simplex Chithyola Banda.
Despite Finance Ministers firing and hiring, Malawi’s economic misfortunes rage on. Here are facts of economic misfortunes occurred when opposition Democratic Progressive Party (DPP) was leaving office in 2020 June through court-sanctioned Elections.
2020 March
Public debt: MK4 trillion n (33% of GDP) Exchange rate: MK720/$ Minimum wage: MK30 000 ($40) 50kg maize: MK10 000 Inflation rate: 8.6% State House budget: MK4 billion ($5.4 million)
2023 November
Public debt: MK12 trillion (73% of GDP) Exchange rate: MK1,700/$ Minimum wage: MK50 000 ($29) 50kg maize: MK45 000 Inflation rate: 29.5% State House budget: MK24 billion ($14m)
The Chakwera administration has devalued the Malawi Kwacha by 81% in a year with the current reckless one of 44% Despite 81% devaluation, civil servants have only enjoyed a 30% increase in three years not in a year.
Without shame, Malawi Congress Party (MCP) cadres are busy lauding a 10% salary increase against an 81% Kwacha devaluation. Do you think if Chilima was Minister of Finance, Malawi could be better by now?
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