Malawi’s President, Lazarus Chakwera, has taken a decisive step to curb public spending and address the country’s economic challenges by imposing a travel ban on himself and his government.
The move comes in the wake of the International Monetary Fund’s approval of a $175-million loan for the southern African nation, as reported by the BBC.
In a televised address, President Chakwera announced a freeze on all publicly funded international trips for government officials at every level until the end of the financial year in March.
“I am imposing a freeze on all publicly funded international trips for public officers at all levels until the end of the financial year in March,” Chakwera.
This means that the president himself will forgo attending the COP28 climate summit scheduled for later this month in the UAE.
As part of the cost-cutting measures, President Chakwera has instructed all cabinet members currently abroad on publicly funded trips to return promptly. Additionally, there is a mandated 50-percent reduction in fuel allowances for senior government officials.
Malawi recently announced a 44-percent devaluation of its currency earlier this week as part of its efforts to secure the IMF loan. Despite substantial official development assistance, the country has faced persistent challenges in achieving sustained growth. The IMF highlighted the past three years as particularly difficult, marked by stagnant growth and widening macroeconomic imbalances due to unsustainable debt and the impact of various shocks, including a recent cholera outbreak and a cyclone that claimed over 1,000 lives this year.
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