LILONGWE—Malawian President Joyce Banda has warned those with the intention to steal whatever is left in state coffers that they will not succeed.

Banda told reporters Tuesday that government was aware of the intentions by some people to steal but she said her government wouldn’t let that happen.

The new president was sworn in on Saturday after the death of Pres Bingu wa Mutharika who suffered a heart attack on Thursday.

She inherits a cash-strapped government, a result of donors cutting off aid and failure by top foreign exchange earner tobacco to perform well at the market.

With no foreign exchange to import fuel and raw materials, the country’s manufacturing industry can barely function.

Donors, who suspended aid over concerns about economic mismanagement and human rights, used to provide up to 40 percent of budgetary support.
 
Pres Banda said she had been reached out to US Secretary of State Hilary Clinton, UK Minister for Africa in Foreign and Commonwealth Office Henry Bellingham for support. They said they would help if the country took the necessary steps to restore confidence in Malawi, according to Banda.

Global lender International Monetary Fund had asked Mutharika to devalue the overvalued currency to help the economy but he had refused, saying doing so would lead to high commodity prices.

With the economy in dire straits, there’s no honeymoon for Banda as she has to get the economy moving again.
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©2012 The Maravi Post. Reproduction authorised, with usual acknowledgment