01:27 am - Wednesday 21 November 2018

Malawi’s opposition request update on foreign debt

By Amalawi - Wed Nov 14, 1:50 pm

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Malawi: Malawi Congress Party (MCP) has asked the Minister of Finance to bring figures of Malawi’s foreign debt, fearing that uncontrolled borrowing might burden future generations.

Dzoole-Mwale of MCP made the request on Monday when commenting on a bill that was seeking to authorise government to borrow $10 million (almost K3 billion) from the Arab Bank for Economic Development in Africa (Badea) for the phase two of irrigation projects in Nkhata Bay and Mangochi.

“We are concerned and indeed worried. I think as a government we have borrowed and indeed are borrowing too much, this will be a burden to the future generations, how will they pay back all this money?” said Dzoole-Mwale before expressing his support for the bill.

Modern farming methods requiredin Malawi

Modern farming methods requiredin Malawi

Dzoole indicated that farmers across the country are still using hoes. “It is my hope that with these funds, those targeted farmers will start using modern farming methods rather than hoes,” he said.

Dzoole-Mwale, who is MP for Lilongwe Msozi South, also asked government to revamp all abandoned irrigation schemes across the country.

Speaking on behalf of the Democratic Progressive Party (DPP), Ntcheu Bwanje North MP Steven Kamwendo advised government to move away from the rain-fed agriculture which he said is being affected by climate change.

“Government should also ensure that any money should have a specific return. In business, you cannot just invest without expecting a return,” he said.

Presenting the bill which was eventually passed, Minister of Finance Ken Lipenga said the money is aimed at improving agricultural production, promoting food security and improving nutrition, and create employment in the benefitting areas.

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