RBM says Malawi should brace for tough economic times

There is a gloomy sky ahead of us, that is the message that Reserve Bank of Malawi governor, Charles Chuka, has put across.

Chuka has said that Malawians should brace themselves for a tough ride ahead economically in view of the Capital hill looting and the subsequent freezing of aid by Malawi’s donor partners.

Chuka’s statement echoes the remarks made by the Minister of Finance who advised Malawians to tighten their seat belts for a bumpy ride ahead economically and further disclosed that in view of such the government was suspending both internal and external travels of public officials including that of the President.

However, the minister’s words were spewed on by the very President who had to lead in practicing the austerity measures.

The governor said that so far Malawi has seen an increase in the inflation levels and things will be deteriorating from bad to worse in the next months.