MALAWI PRESIDENT AND CABINENT BAN FROM FOREIGN TRAVELS

Malawi’s President, Lazarus Chakwera has suspended all international travel for himself and his government.

The measure which is with immediate effect follows a huge devaluation of the currency as Malawi secures a four-year credit facility worth $174m from the International Monetary Fund (IMF) to boost its ailing economy.

As part of moves to ease the cost-of-living crisis, the president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.

He has also ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.

President Chakwera who has also ordered all ministers currently abroad to return home, says the measures would remain in place until the end of the financial year in March 2024.

Meanwhile, fuel allowances for senior government officials have been cut by 50%.

Malawi’s economy has been undergoing turbulent times, characterized by an acute shortage of petrol and diesel, as well as high inflation.