LILONGWE-(MaraviPost)-The Consumer Association of Malawi (CAMA) has urged the government, Parliament and the Reserve Bank of Malawi (RBM) to reject any proposal for further devaluation of the Malawi Kwacha in ongoing discussions with the International Monetary Fund (IMF).
CAMA Executive Director John Kapito made the call in a statement issued on Thursday, September 24, 2026.
Kapito said Malawi needs economic reforms, fiscal discipline and increased foreign-exchange earnings, but warned that further devaluation could put additional pressure on households, farmers, workers and businesses.
He said the country should instead address the structural challenges affecting the economy by increasing production, diversifying exports, promoting value addition and strengthening measures to ensure that export earnings enter the formal financial system.
According to CAMA, the Kwacha was devalued by 25 percent in May 2022 and by a further 44 percent in November 2023.
The association said the devaluations were followed by increases in the prices of essential commodities, including food, fuel, fertilizer and medicines.
CAMA further warned that another major devaluation could increase the cost of imported goods, as Malawi relies heavily on imports for fuel, fertilizer, medicines and machinery.
The association has therefore called for alternative economic measures aimed at improving foreign-exchange availability and strengthening the Kwacha without further increasing the cost of living.
The IMF approved a 48-month Extended Credit Facility (ECF) arrangement for Malawi worth about US$175 million in November 2023.
The programme expired in May 2025 without completing a review, while Malawi has since been engaged in discussions with the IMF on a possible new programme.
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