MALAWI TO MISS INITIAL BENEFITS OF GLOBAL ECONOMIC RECOVERY

Financial market analysts say –Malawi will not, anytime soon, feel the impacts of world economic recovery as it does not directly trade with big economies.
The remarks were made following global economic improvements registered for instance in US, UK and China.
This according to a world economic think tank – International Monetary Fund -IMF is a sign enough the global economy is improving.
It was reported that US unemployment rate dropped significantly in December and the Federal Reserve – US’s central bank, aims at removing austerity measures such as the issuing of bonds –following these economic improvements.
The UK and China economic growth in 2013 also surpassed projections –thereby giving strong hopes of world economic recovery.
However, speaking in an interview with MIJ FM, one of the country’s financial market analysts Chikavu Nyirenda ruled out any possibility of Malawians feeling this global economic growth in short term, as the country does not trade directly with big economies.
“Yes there are significant improvements worldwide, but I do not think it will mean anything to local economy.
“You know Malawi as a country we do not directly trade with those big countries; instead we are active with South Africa, and fellow African nations.
“This will affect us in such a way that we can hardly benefit in these improvements at initial stages.” Nyirenda said
Nyirenda has since pointed out that malawi as a nation must produce and export for it to be stable in doing business