LILONGWE-(MaraviPost)-There is great excitement among business captains across the country a head of much anticipated this year’s Reserve Bank of Malawi (RBM)’s monetary policy conference slated for capital Lilongwe from Thursday, September 29 to 30, 2022.
About 200 participants have registered to attend physically while 220 will participate virtually at attend at Bingu International Convention Centre (BICC).
The conference comes amid prevailing economic challenges that Malawi is facing including depreciation of the kwacha, scarcity of forex and fuel and high cost of living.
In a brief statement made available to The Maravi Post, the central bank said the conference will provide right forum to brainstorm economic issues to enhance monetary policy in the current unfavorable conditions.
“COVID-19 global pandemic has, amongst other effects, compelled central banks to deploy unconventional monetary policy measures in order to support economic recovery, while at the same time being mindful of the price stability objective.
“The pandemic has also led to the emergence of financial innovations, which may challenge the effectiveness of the traditional monetary policy design,” reads part of the statement.
RBM adds, ” It might, therefore, be important to accommodate these innovations in the current policy environment in pursuant of central banks’ mandates in order to enhance their effectiveness.
“This year’s conference, therefore, provides the right forum to brainstorm these issues with all relevant sectors of the economy to enhance monetary policy in the current environment“.
Labour Minister Vera Kantukule with the Reserve Bank Governor Dr. Wilson Banda will grace the conference.
The conference also comes barely weeks after International Monetary Fund (IMF) to put on hold talks on new extended credit facility (ECF) with Malawi until tangible resolution is made on the country’s debt sustainability management.