LILONGWE-(MaraviPost)-The former Reserve Bank of Malawi (RBM) Governor Dr Dalitso Kabambe has retaliated the need for President Lazarus Chakwera to put right people in right positions in his administration to correct the economic mess.
Dr Kabambe who is also UTM Party presidential aspirant told Times TV Exclusive interview that incompent public servants have contributed to Chakwera’s Tonse Alliance administration ailing economy.
“You always get the right mechanics to fix the broken vehicle. There are wrong people in key public offices. This is the reasons we are in this economic mess.
“These incompetent individuals dont have the crue how to get the correct modalities to fix the ailing economy,” observes Dr. Kabambe.
The former RBM governor added that Malawi is suffering from deep financial cancers including fiscal, monetary and exchange rate which need competent individuals.
Dr. Kabambe’s observation comes as the centre Bank has lost its mandate on managing exchange rate amid scarcity of forex, high inflation and interest rates.
Malawi inport cover is below three months.
Currently, inflation has soared to 33.2% while interests rate hovering at 27% making it difficult to do business in Malawi.
When Dr. Kabambe was at the helm of Malawi Central Bank, Malawi Kwacha against America Dollar was pegged at MK750, inflation 13% and interests rates was single digit.
