By Rahim Abdul
Reserve Bank of Malawi (RBM) Governor, Dr. Mafuta Mwale, has strongly dismissed circulating reports suggesting that the Kwacha will be devalued after the upcoming elections, describing them as false, malicious and politically motivated.
Addressing journalists at the RBM headquarters in Lilongwe, Dr. Mwale said there is no government policy or central bank plan to devalue the local currency either before or after the polls.
He accused some opposition elements of spreading misinformation to cause panic among citizens and destabilize the economy.
“These rumors are completely unfounded. I want to assure Malawians and the business community that there will be no devaluation of the Kwacha after the elections. Our monetary policy remains stable, and the economy is on a recovery path,” said Dr. Mwale.
The governor emphasized that the RBM is working tirelessly to maintain price stability, control inflation and support economic growth through prudent fiscal and monetary management.
He further warned those behind the false reports that their actions could have serious consequences, including unnecessary panic buying and artificial inflation.
“Spreading lies about devaluation is not only irresponsible but also dangerous. It creates fear and uncertainty, which can harm our economy,” he added.
Dr. Mwale urged Malawians to remain calm and focused, assuring them that the RBM will continue implementing policies aimed at strengthening the Kwacha and ensuring a stable financial environment.
The statement comes amid a heated election period, where economic management has become a key campaign issue. The central bank’s assurance is expected to restore public confidence and silence speculation over a post-election currency adjustment.
