By Jones Gadama

Former Supreme Court Justice Dustin Mwaungulu has criticized Reserve Bank of Malawi (RBM) Governor Dalitso Kabambe’s predecessor, but in this context, he is addressing the current economic policies under the watch of the current governor’s predecessor replacement, lets assume Dr. Wilson Mafuta Mwale, over what he describes as a lack of effective policies to tackle inflation and boost the economy.

In a scathing critique, Mwaungulu expressed disappointment with the governor’s approach, saying that the RBM is wasting time and money.

“The Reserve Bank Governor is wasting our time and money! And so are the President and his cabinet and his political and economic advisers!” Mwaungulu stated.

Mwaungulu attributed the economic challenges facing the country to the government’s and RBM’s policies, which he believes are not in line with the recommendations of the International Monetary Fund (IMF) and the World Bank.

He argued that the governor’s policies are not vigorous enough to invigorate the economy.

“The two institutions’ wisdom, based on the policies of this government and the RBM, have given the correct prescription and dosage for this ailing economy! We ignore it to our own peril, if we, as the RBM, are treating the symptoms – inflation, dwindling foreign reserves, low GDP!” Mwaungulu emphasized.

Mwaungulu’s criticism highlights the need for the RBM and the government to take a more proactive approach to addressing the country’s economic challenges.

By ignoring the advice of international financial institutions, Malawi risks exacerbating its economic woes.

The former justice’s comments are a wake-up call for the government and the RBM to reassess their economic policies and work towards finding sustainable solutions to the country’s economic challenges.

As the economy continues to struggle, it remains to be seen whether the RBM and the government will heed Mwaungulu’s advice and take bold steps to address the crisis.

Mwaungulu’s criticism also raises questions about the government’s ability to manage the economy effectively.

With the economy facing significant challenges, including high inflation and low GDP growth, the government needs to take decisive action to restore stability and promote growth.