{"id":34235,"date":"2022-11-06T20:26:49","date_gmt":"2022-11-06T20:26:49","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches"},"modified":"2022-11-06T21:27:47","modified_gmt":"2022-11-06T21:27:47","slug":"malawis-public-debt-level-worries-all-african-conference-of-churches","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches","title":{"rendered":"Malawi\u2019s Public debt level worries All African Conference of Churches"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>All African Conference of Churches (AACC) Economic Justice and Accountability Ambassador in Malawi, Reverend Baxton Maulidi has expressed sadness over the levels of the country\u2019s public debt.<\/p>\n

Rev Maulidi was reacting to the recent report shared by the Minister of Finance Sostin Gwengwe that Malawi\u2019s public debt as of May 2022 stood at 6.3 Trillion MWK from 5.7 trillion the previous year.<\/p>\n

Maulidi said it is heart breaking to learn that the country\u2019s debt translates to every Malawian citizen having a debt of K600,000 hanging over each individual\u2019s head. He said it is therefore prudent to know how the money has been used as the country doesn\u2019t have much to show for it.<\/p>\n

He also expressed worry that Malawi remains predominantly an importing and consuming nation and lags behind in producing and exporting attributing this to lack of political will to move the country forward.<\/p>\n

He cited the free for all looting of government resources in 2013 dubbed cashgate and the recent mismanagement of covid 19 funds as examples. The accountability ambassador suggested that going forward government should slow down on borrowing and put in place measures to address extravagance by duty bearers.<\/p>\n

He further added that fighting corruption shouldn\u2019t be lip service but action oriented. The Economic Justice and Accountability Ambassador said it is worrisome that the IMF has not approved an Extended Credit Facility ECF for Malawi due to the unsustainable levels of the country\u2019s public debt.<\/p>\n

He however observed that Malawi\u2019s neighbour Zambia\u2019s public debt stands beyond an equivalent of K14 trillion however the IMF has approved their ECF to the tune of 1.4 billion dollars attributing it to the fiscal discipline being advanced by the new Zambian administration.<\/p>\n

Reverend Maulidi therefore advised the executive not to only preach austerity, but to be seen to be practicing the austerity measures. He then called upon the Ministry of Finance to come up with a report clearly explaining why each of the accumulated debt was taken and how it was used.<\/p>\n

He has since called for conceited efforts among all sectors of the society to work together in addressing the predicament that has befallen the Malawi nation other than wasting time in finger pointing. He hailed Gwengwe for being honest and truthful about the extent of the country\u2019s public debt with lending institutions.<\/p>\n

Maulidi, who is also the Deputy General Secretary for Blantyre Synod of the CCAP further asked Malawians to take time to understand issues surrounding debt in this country as it seems most people do not understand how debt directly or indirectly affects their livelihood.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. All African Conference of Churches (AACC) Economic Justice and Accountability Ambassador in Malawi, Reverend Baxton Maulidi has expressed sadness over the levels of the country\u2019s public debt. Rev Maulidi was reacting to the recent report shared by the Minister of Finance Sostin Gwengwe that Malawi\u2019s public debt as of May 2022 stood […]<\/p>\n","protected":false},"author":84,"featured_media":34234,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[233,371,234],"class_list":["post-34235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nMalawi\u2019s Public debt level worries All African Conference of Churches - Malawi<\/title>\n<meta name=\"description\" content=\"All African Conference of Churches (AACC) Economic Justice and Accountability Ambassador in Malawi, Reverend Baxton Maul ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malawi\u2019s Public debt level worries All African Conference of Churches\" \/>\n<meta property=\"og:description\" content=\"All African Conference of Churches (AACC) Economic Justice and Accountability Ambassador in Malawi, Reverend Baxton Maul ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-06T20:26:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-06T21:27:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/11\/postQueueImg_3-636826a1d4322.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Malawi\u2019s Public debt level worries All African Conference of Churches\",\"datePublished\":\"2022-11-06T20:26:49+00:00\",\"dateModified\":\"2022-11-06T21:27:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches\"},\"wordCount\":455,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/11\/postQueueImg_3-636826a1d4322.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-public-debt-level-worries-all-african-conference-of-churches\",\"name\":\"Malawi\u2019s Public debt level worries All African Conference of Churches - 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