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Wednesday, July 17, 2024

‘Ngongole si chinthu choti dziko lino lizinyadira kuti lalandira’ – Kabambe

KABAMBE: There is no joy in celebrating borrowing

Former Reserve Bank (RBM) Governor Dr Dalitso Kabambe has described government excitement over Extended Credit Facility (ECF) as worrisome.

Economist Dr. Kabambe was speaking on Friday during Democratic Progressive Party (DPP) presser held at PAGE HOUSE in Mangochi.

He said ‘there is no joy in celebrating borrowing’; adding that loans are short term, and the country needs to start looking for long terms solutions.

‘Nzomvetsa chisoni kuti nduna za boma komanso m’tsogoleri wa dziko lino akumanyadira chifukwa dziko lino lalandira ngongole kuchokera ku bungwe la IMF, ngongole si chinthu choti dziko lino lizinyadira kuti lalandira,” said Kabambe

On Tuesday, the Executive Board of the International Monetary Fund (IMF) approved S$ 174 million ECF to Malawi.

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