Excessive borrowing has plunged Malawi’s economy
By Vincent Gunde
LILONGWE-(MaraviPost)-Social media analyst and contributor Rick Dzida, says excessive borrowing and over expenditure by the Malawi Congress Party (MCP) led Tonse Alliance government have plunged the country’s economy to the bottom describing this development as worrisome.
Dzida said it is pathetic that Malawi’s economy has worsened under the leadership of President Lazarus Chakwera although donors and development partners have resumed their budgetary support to the country.
When the MCP led Tonse Alliance government was voted into power on 23rd June, 2020 the country’s national debt was at MK3.16 trillion and this was left by three governments of the late Bingu wa Mutharika, Joyce Banda and Peter Mutharika.
Infrastructures left by the DPP led government of Mutharika are still being seen today including International Convention Centre (BICC), Bingu National Sports Stadium, Malawi University of Science and Technology (MUST) and the state-of the art hospital in Nkhatabay.
In just 4 years in government, the MCP led Tonse Alliance of President Chakwera has borrowed over MK9 trillion bringing the country’s national debt to MK12.56 trillion, this is making Malawians wondering what and where President Chakwera is delivering.
Writing in his national address “A better future for Malawi is possible,” Dzida has urged President Chakwera to walk the talk in as far as following economic austerity measures is concerned because he has been proved to be a pathetic hypocrite.
Dzida has observed that President Chakwera’s frequent domestic and foreign travels have further depleted government coffers as he is used to move with a bloated entourage drawing millions of Kwachas for their own benefit while the country and citizens benefiting nothing.
On corruption, Dzida said Malawi is dismally losing the battle against corruption claiming that the ACB Director General Martha Chizuma is no longer the same person Malawians trusted for the position and she seems not to be in the country, she is on holiday out of the country.
“Instead of fighting corruption to another level, President Chakwera has fueled corruption practices by pardoning corruption suspect Bakili Muluzi over his alleged K1.7 billion and corruption convict of issuing passports to foreigners, Uladi Mussa,” reads part of Dzida’s national address.
Dzida has expressed his concern over partisan politics being played by Speaker of the National Assembly Catherine Gotani-Hara saying the current Leader of Opposition is an Independent Member of Parliament (MP) questioning patriotic Malawians that since when did independent Members of Parliament automatically become a member of a political party.
