01:56 pm - Saturday 22 September 2018

ERP needs more time

By Amalawi - Sun May 12, 10:09 pm

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Malawi’s Finance  Minister Dr Ken Lipenga has said that despite the recent improvement in  economic indicators in the country the ERP needs times to trickle down to all Malawians. The living standards of Malawians is getting worse despite the improved indicators.

The  remarks follow a record drop in inflation by end March, the kwacha  appreciation on the market, maintenance of the base lending rate at 25  percent and the fuel price drop effected this week.

As expected,  the Finance Minister spoke highly of the economic reform measures the  Joyce Banda administration adopted rating them as “a necessary evil.”
“We  remain optimistic as government that the path towards recovery is  smooth this time around compared to the case in the past,” said Lipenga.
In  May 2012, government adopted new economic reform measures including 49  percent kwacha devaluation and floatation of the same as recommended by  the International Monitory Fund-IMF.

Ken Lipenga

Ken Lipenga

However, commentators have  over time questioned the credibility behind the implementation of a full  set of the IMF’s prescribed reform measures, without assessing its  impact on Malawians and the economy at large.

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