Mphepo making a presentation during the training

Centre for Social Concern (CfSC) has said Malawi is failing to develop to the level of other African countries because of huge debts the country is in; in addition to other factors.

Making the remarks in Mangochi on Thursday when the organisation held a media training on public finance management, Economic Governance Programs officer, Bernard Mphepo, said Malawians are going through difficult times because of economic situation the country is going through.

“Generally, the year, 2021, has not been a good year because cost of living has really been going up and also generally, I think there was limited transparency on issue of public finance management. We are hoping that in 2022, we will do things differently as a country.

“In 2006, Malawi’s debts, borrowed both locally and internationally, were estimated around 500,000 US Dollars and Centre for Social Concern was there and helped in lobbying government to minimise borrow but today, the debts have gone way up to the extent that the country is being pulled down in terms of economic development,” said Mphepo.

Journalists listening to the presentation

Mphepo added that as an organisation, they have thematic areas that they continue to emphasize as one way of lobbying the government to ensure that livelihood of ordinary Malawians is improving.

Recently, International Monetary Fund (IMF) cautioned Malawi to cut down on borrowing as that has serious effects on the country’s economy.

Malawi’s debts are currently estimated around K5.5 trillion.

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