Host: Lekan Onabanjo
Guest: Mavuto Bamusi, Political Analyst, Blantyre, Malawi
In Southern Africa, Malawi's President Lazarus Chakwera has taken measures to curb government spending by implementing a travel ban for himself and his administration. This decision comes in the wake of the International Monetary Fund's (IMF) approval of a $175 million loan for the country.
As part of the cost-saving measures, President Chakwera has opted to skip the scheduled attendance at the COP28 climate summit later this month in the UAE. Additionally, he has directed all cabinet members currently abroad on publicly funded trips to return home promptly.
Furthermore, there is an order for a 50-percent reduction in fuel allowances for senior government officials. These austerity measures aim to support Malawi's struggling national economy and come alongside the recent devaluation of the nation's currency by 44% as part of the conditions for obtaining the IMF loan.
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Malawi's President Implements Travel Ban On Cabinet to Curb Government Spending | NC Now | 17-11-23
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