Felix Jumbe, the man who failed to hook the MCP Presidency seat at the Party’s Convention and the former President of Farmers Union of Malawi (FUM), has alleged that the Malawi government borrowed MK 114 billion from the Reserve Bank of Malawi.
According to Jumbe, the Malawi government has increased its borrowing, both direct and through treasury bills, from the Reserve Bank of Malawi to the tune of MK 114 billion in the current budget year.
This borrowing also came at a time when government was forced to cut its allocations to some departments and ministries by 50% under the guise of saving funds which they never had and only had to use for specific purposes.
However, according to Jumbe, nothing has been seen to have been done by the money that was borrowed and has called on the citizenry to demand explanations from the government as to where the money they borrowed went to.
Jumbe further said that it does not make sense that the money was borrowed, cuts were made in government spending yet there are some basic social services that can never be met.
Jumbe’s claims are coming in at a time when there has been exposed massive looting at Capital Hill and subsequently there has been a breakdown in the provision of social service with University Colleges failing to open and hospital staff downing their tools.