US envoy urges govt to create more jobs
United States of America Ambassador David Young has asked Malawi Government to create more paying jobs for its citizenry if the current economic crisis is to be addressed.
Speaking in a telephone interview on Tuesday, the US Ambassador said as much as the economic issue is a global crisis, there is need for a country like Malawi to put its house in order to attract more foreign investors.
Said Young: “First of all deal with corruption, I bet you, more investors will flock to the country and this will mean more job opportunities for the citizens.
“The current economic challenges are being felt hard in the country because the majority of the people in the productive age bracket have no jobs.”
He added that no investor can take a risk of investing in a country which has increased cases of corruption.
Young further said time is ripe for Malawi to revive its economic status by doing the right things, including avoiding abuse of taxpayers’ money.
On hopes of the US resuming direct budgetary support to Malawi Government, the envoy said his government will still rely on its agencies as it will be easier to follow up on the funds.
Explained Young: “Transparency and accountability on the funds usage remain a challenge for the US Government alone to make a follow up. This, therefore, gives power to the US agencies like USAid, among others, to take a leading role in supporting implementation of the various projects in the country.”
He cited the health sector as one area the US Government is putting much effort and attention through its aid agencies.
In his New Year Address on Sunday, President Lazarus Chakwera conceded that 2022 was a difficult year for Malawi and global economies due to a sharp rise in the cost of living triggered by disruptions in the supply chain and high inflation on imported commodities.
He attributed the troubling economic situation to the impact of the Covid-19 pandemic and the Russia invasion of Ukraine.
The President said despite the challenges and the pain emanating from the situation, his administration ensured there was foreign exchange for procuring essential commodities such as fuel and fertiliser and implemented austerity measures to stop the economy from collapsing.
Chakwera further said he has formed a Presidential Private Sector Council, to comprise “respected private sector leaders, who will analyse the effectiveness of the country’s economic policies in creating jobs and wealth.
