“Government has devalued Kwacha to gain profit for themselves” -CDEDI

The Executive Director of Center for Democracy and Economic Development Initiatives (CDEDI) Sylvester Namiwa has said that government has devalued the kwacha in order to gain profit for themselves by ignoring the problems that Malawians are facing due to increase in prices of goods on the market.

Namiwa said this in a document released on Tuesday this week where he also said that despite the Tonse Alliance Government devaluing Kwacha currency, the country economy has not been doing well.

He added that he does not believe that Tonse Government has devalued the Kwacha currency in order to restore country’s economy.

Various groups have been speaking in protest after the Tonse Alliance Government devaluated kwacha by 44% which has caused many goods in the country to rise.