22% Malawi Kwacha Devaluation
.…Reserve Bank Sets the Record Straight
The Reserve Bank of Malawi has denied rumors circulating in the country about a 22% devaluation of the Kwacha.
Mark Lungu, spokesperson for the Central Bank, stated that the rumors are untrue and do not reflect the current situation.
He labeled those spreading the rumors as “enemies” and advised the public to rely on information from the Bank’s Monetary Policy Committee.
The denial comes as Malawi faces rising inflation, leading to increased prices of basic commodities.
However, the Reserve Bank has assured the public that it is working to address the economic challenges facing the country.
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