Finance Minister Joseph Mwanamvekha has challenged the Malawi Congress Party (MCP) to acknowledge what he termed the underlying causes of Malawi’s current economic hardships, placing responsibility squarely on the opposition party’s past governance record.
Addressing Parliament during the conclusion of debate on the mid-year budget review, Mwanamvekha said Malawians “from Chitipa to Nsanje and Phalombe” recognise that today’s fiscal pressures stem from what he described as mismanagement and lack of fiscal discipline under the MCP.
The minister bolstered his claims by referring to the International Monetary Fund’s assessment following the expiry of Malawi’s Extended Credit Facility (ECF) in May this year.
According to the IMF, the ECF programme encountered major obstacles, including fiscal indiscipline, difficulties in rebuilding foreign exchange reserves, and unresolved external debt restructuring issues, observations Mwanamvekha said align with long-standing government concerns.
Mwanamvekha argued that these findings validate the administration’s warnings about the structural weaknesses inherited from previous leadership.
He urged MCP lawmakers to “accept the reality rather than play holier than thou,” insisting that political accountability is crucial if Malawi is to navigate its economic recovery.
The minister stressed that sincere engagement from both sides of the aisle is vital to restoring stability and rebuilding public confidence in the economy.
He closed his remarks with a call for unity, saying Malawi’s economic wellbeing must rise above partisan battles and remain the central focus of national leadership.
