Malawi’s debt is K6.38 trillion
Minister of Finance has disclosed that the country’s debt has reached 6.38 trillion Kwacha from 5.6 trillion Kwacha last year.
Speaking during a National Youth Conference in Lilongwe, Sosten Gwengwe said debt is making Malawi not to progress.
Gwengwe told the Youth Conference that even International Monetary Fund IMF does not lend countries with huge debt.
“Forex shortage and blackouts are some of the constraints affecting economy of Malawi,” Gwengwe
But Member of Parliamentary Budget and Finance Committee Ralph Juma asked government to impose austerity measures that suit all Malawians
Meanwhile, Executive director of Youth and Society YAS Charles Kajoloweka has challenged tonse alliance administration to act on promises it endorsed in national youth manifesto in 2019
Kajoloweka said there is poor governance in Malawi which will negatively affect realization of Malawi 2063 development blueprint
Minister of youth and sports Richard Chimwendo Banda also attended the conference