LILONGWE-(MaraviPost)-President Peter Mutharika has categorically state that there is no discussion about devaluing the Malawi Kwacha with the International Monetary Fund (IMF) mission.
According to a statement issued on October 8, 2026 and signed by Minister of Information, Technology and Innovation Shadric Namalomba disputes “reports circulating that the government of President Arthur Peter Mutharika is negotiating a Kwacha devaluation as part of a new Extended Credit Facility (ECF) program are false and have no truth”.
Government said the IMF team that was in the country from September 22 to October 6, 2026 commended the significant reforms government is implementing on the economy. In their concluding statement, the IMF said these reforms provide a strong foundation for an IMF-supported program and that substantial progress has been made in putting in place policies and reforms that could support a new ECF arrangement.
This means government is on the right track to restore international confidence after the damage done in the past.
“Government is working to resolve forex shortages, strengthen good economic management, support domestic production and reduce the cost of living,” Namalomba.
The information Minister therefore has asked citizens, businesses and the media not to amplify unverified rumors and to rely on official statements from government and monetary authorities.
Malawi Government’s position is clear that a devaluation of the Malawi Kwacha is not under discussion in the ongoing IMF talks.
IMF mission was in Malawi the past week meeting various government including Finance Minister Joseph Mwanamvekha, Reserve Bank of Malawi (RBM) officials assessing ECF progress.
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