Malawi’s President Enforces Travel Ban to Curtail Spending Amid Economic Challenges

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President Lazarus Chakwera of Malawi has announced a significant austerity measure, implementing a travel ban on himself and government officials as part of efforts to curtail public spending and address the country’s struggling economy.

This move comes in the wake of the approval of a $175-million loan to Malawi by the International Monetary Fund (IMF), indicating efforts to stabilize the southern African nation’s economy.

In a televised address late on Wednesday, President Chakwera stated, “I am imposing a freeze on all publicly funded international trips for public officers at all levels… until the end of the financial year in March.”

President Chakwera himself will forego attending the COP28 climate summit in the UAE later this month due to the travel restrictions imposed on publicly funded trips.

Furthermore, all cabinet members currently abroad on government-funded trips have been instructed to promptly return home. Additionally, Chakwera mandated a 50-percent reduction in fuel allowances for senior government officials.

This recent decision comes as Malawi previously announced a 44-percent devaluation of its currency in efforts to secure the IMF loan. The country has faced prolonged challenges in sustaining economic growth despite substantial inflows of official development assistance.

According to the IMF, Malawi has encountered stagnating growth and widening macroeconomic imbalances over the past three years due to unsustainable debt and the impact of various shocks, including a recent cholera outbreak and a devastating cyclone that claimed over 1,000 lives this year.

President Chakwera’s imposition of a travel ban and other stringent fiscal measures aims to address these economic challenges and foster stability within the country.

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