By Dorica Mtenje
LILONGWE-(MaraviPost)-Consumer Association of Malawi (CAMA) condemned has President Lazarus Chakwera’s Tonse Alliance government for allowing Reserve Bank of Malawi (RBM) for keep on borrowing for consumption.
Kapito told The Maravi Post on Monday, September 19, 2022 in an arguing that there is a limit under which government can borrow from the domestic market and a time will come where even the banks will have no money it’s sad that we are operating a country like kindergarten school.
He said when a country has no economic plans that’s what happens in crisis management the question is when did the leadership realize that we have or we will have a forex crisis in the country that’s the trouble with our leaders they go into government with no plans and now they are caught pants down.
Kapito said these are people that only understand that going into government is to make or steal money and after they emptied every safe they have realized that everything is gone .
He said for RBM to call malawians to do things that bring in forex and they know for a fact as broke as Malawi is now there is nothing that can bring in forex and which Malawians are they pleading to when the very same government is the one taking out forex through useless international trips and useless appetite for imported goods.
The Central Bank told Times Talk Program that the country is sustaining through borrowing from banks and other country until the country is stabilise.
Deputy Reserve bank governor William Matambo said RBM has borrowed some forex which will keep the country running as it will be channelled to fuel purchase and Affordable Inputs program(AIP)
Matambo said their is need for Malawians to start exercise things that will bring forex in the country.
He said the country is in a serious crisis which need to put aside politics in fuel crisis and AIP program.
Meanwhile the country economy keeps on going worse day by day as the fuel shortage and goods are hiking regardless people failing to have enough money for themselves.
