RBM Insists No Kwacha Devaluation Despite IMF Call
Published on September 5, 2025 at 7:40 AM by Evance Kapito
The Reserve Bank of Malawi (RBM) has dismissed any plans to devalue the Malawi Kwacha, either now or in the near future, stressing its commitment to maintaining currency stability.
In a statement released today on its official Facebook page, RBM Governor Macdonald Mafuta Mwale said the Bank’s focus is on building up the country’s foreign exchange reserves rather than weakening the Kwacha a move he warned often leads to serious economic disruptions.
“Devaluing the Kwacha without a reliable cushion of foreign exchange reserves will not solve anything. Our priority is to ensure the nation has adequate forex,” said Mwale.
His remarks come shortly after the International Monetary Fund (IMF) recommended that Malawi devalue its currency to better reflect market realities. Currently, the Kwacha trades at K1,751 per US dollar at the official RBM rate, while on the parallel market it fetches nearly K4,500 per dollar.
Source:Times360Malawi
