RBM Insists No Kwacha Devaluation Despite IMF Call

Stabilizing Malawi's Economy: Reserve Bank's Firm Stance on Currency Value Sparks Business Opportunities - Business Malawi

Key Business Points The Reserve Bank of Malawi (RBM) has ruled out devaluing the Kwacha in the near future, prioritizing exchange rate stability and foreign reserve growth. The central bank […] The post Stabilizing Malawi’s Economy: Reserve Bank’s Firm Stance on Currency Value Sparks Business Opportunities appeared first on Business Malawi.

Reserve Bank of Malawi rules out devaluation

The Reserve Bank of Malawi (RBM) has reiterated its position that it has no intention of devaluing the Kwacha in the foreseeable future, insisting that its focus is on exchange rate stability and building foreign reserves. In a statement posted on its official Facebook page on Thursday, the central bank said economic resilience can best be achieved through the sustainable accumulation of foreign exchange reserves rather than devaluation. To read…

RBM Insists No Kwacha Devaluation Despite IMF Call

The Reserve Bank of Malawi (RBM) has dismissed any plans to devalue the Malawi Kwacha, either now or in the near future, stressing its commitment to maintaining currency stability. In a statement released today on its official Facebook page, RBM Governor Macdonald Mafuta Mwale said the Bank’s focus is on building up the country’s foreign exchange reserves rather than weakening the Kwacha a move he warned often leads to serious economic disruptio…