BLANTYRE-(MaraviPost)-The former Reserve Bank of Malawi (RBM) Dr. Dalitso Kabambe has urged President Lazarus Chakwera’s Tonse Alliance government to reduce domestic borrowing arguing that the move is chocking private sector economic growth.
Kabambe therefore made a number radical suggestions on how to transform Malawi’s economic misfortunes into prosperity.
In a public lecture at Catholic University of Malawi in Chiradzulu on Thursday, June 6, 2024 the former RBM governor observes that local debts have prevented private sector to access funds for growth as government through treasury has taken big chunk.
He therefore emphasized the need for a paradigm shift in Malawi’s development philosophy to achieve industrialization.
Kabambe therefore urged Chakwera leadership to appoint competent individuals to manage district councils, and allocate at least MK100 billion to each council to support their strategic development plans.
The appeal come comes as Chakwera’s Tonse government has accumulated over MK13 trillion debt in four years after assumed leadership in 2020.
Dr. Kabambe is also opposition Democratic Progressive Party (DPP) Presidential Aspirant.