Mutharika to address Malawians on devaluation of kwacha

Democratic Progressive Party (DPP) President Peter Mutharika will on Friday hold a press briefing to address the general public on the recent devaluation of the Kwacha.

DPP Spokesperson Shadreck Namalomba, has confirmed of the development in a statement made available to this publication.

According to Namalomba, Mutharika will be accompanied by other senior members of the Party.

Namalomba said Mutharika will also suggest ways in which the government and Malawians can manage the challenges being faced as a result of the fall of the Kwacha.

The Central Bank, on Wednesday night, announced a 44 percent devaluation of the Kwacha which has resulted in the rising cost of almost all basic commodities on the local market.