Malawi’s President Lazarus Chakwera bans himself and his cabinet from all international travel in a bid to save money for his country
The president disclosed this during a televised address on Thursday, November 16.
The measure follows a huge devaluation of the currency as Malawi secures a loan from the International Monetary Fund (IMF) to boost its ailing economy.
Mr Chakwera has also ordered all ministers currently abroad to return home.
Fuel allowances for senior government officials have been cut by 50%.
Malawi’s economy has been undergoing turbulent times, characterised by an acute shortage of petrol and diesel, as well as high inflation.
Mr Chakwera said the measures would remain in place until the end of the financial year in March 2024.
As part of moves to ease the cost-of-living crisis, the president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.
He has also ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.
| Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
Featured Video
