Tags: RBM

Abandon demand side policies, rbm advised

  The Reserve Bank of Malawi (RBM) should abandon demand side management polices instead of supply side polices if the kwacha’s steep depreciation is to be contained, University of Malawi’s Chancellor College economics professor Ben Kaluwa has said. Kaluwa, reacting to RBM’s statement released last Friday signed by Governor Charles Chuka which explained the genesis…

RBM mum on Mzuzu Branch opening

  The Reserve Bank of Malawi (RBM) continues to keep a tight lid on when the new Mzuzu Branch will open, but said the branch has so far started handling cash transactions for distribution to commercial banks in the Northern Region. This week, armoured vehicles could be seen delivering cash at the bank, which has…

Chuka reflects on kwacha fall in 2015

  Reserve Bank of Malawi (RBM) Governor Charles Chuka has said the fluctuation of the kwacha in 2015 against major international currencies, particularly the dollar, was worse compared to the experience the year before. The governor—in the third monetary policy statement released on Friday—said the situation was exacerbated by panic buying of foreign exchange by…

Kwacha under severe pressure

After weeks of stability and subsequent gain, the local currency has found itself in another shocking swing, sharply losing value to almost all major trading currencies, Business News has learnt. The kwacha, according to mid-rates sourced from Reserve Bank of Malawi (RBM), shed 2.3 percent against the dollar to trade at K615.79 as at December…

Cabinet Ministers face the nation amid pressure

Buckling under pressure to respond to growing concerns of the weakening economy, senior Cabinet Ministers this morning  went out of their way to explain the current hardships Malawians are going through. But veteran human rights activist Undule Mwakasungula has told government that press conferences will not solve the country’s socio-economic challenges, saying they require divine…

Domestic debt eases 1.9%

  Private borrowers are likely to be priced out of the credit market and feel the pinch of high interest rates if government continues to borrow to service debts and dominate in the credit market, a financial analyst has said. NBM Capital Markets Limited assistant investment analyst Paul Mojoo was responding to a questionnaire in…

Forex supply under pressure

Foreign reserves are still under severe pressure with latest market statistics pointing that both gross official and private sector reserves continue dwindling. The situation has in turn continued to strain the exchange rate movement, with the kwacha depreciating against all major currencies in the month of August and particularly slipping to K635 against the dollar…

RBM supports strategic imports

As the lean season of foreign exchange availability is fast approaching, monetary authorities are supporting the importation of strategic commodities in the market, a report from Reserve Bank of Malawi (RBM) has said.   Some of the strategic imports include fuel and fertiliser. “Monetary authorities continued to sell foreign exchange in support of importation of…

Goodall outlines recovery measures

Finance, Economic Planning and Development Minister Goodall Gondwe said on Tuesday government has taken steps aimed at “jump-starting” the Malawi economy which he admitted is not on track. Gondwe cited recent measures by Reserve Bank of Malawi (RBM) on the foreign exchange market as one of the steps that government has undertaken to help halt…