Thursday, July 18, 2024

DPP Propels False Devaluation Rumors, Government Dismisses Rumor as Entirely Fake

Dalitso Kabambe, for Governor for Reserve Bank of Malawi, now a DPP official and party presidency aspirant


Some of the opposition Democratic Progressive Party (DPP) gurus have been caught pants down instructing their social media forces to perpetrate rumors of devaluation of the Kwacha.

Shire Times understands that there are some DPP officials who have previously served in important financial and economic-handling portfolios including the Ministry of Finance and Reserve Bank of Malawi (RBM), among others, who are claiming that they are still privy to economic data and in some instances further claim that they still run the show despite them now being in opposition.

Coming fresh on their latent propaganda, these politicians have contracted information messengers to peddle news that a devaluation of the Kwacha is coming by next week. This news has been categorically dismissed by Ministry of Finance officials who responded our questionnaire today.

“There is no devaluation coming, at least not next week nor in a month’s time. Not any time soon”, said the officials who responded on condition of anonymity.

Further investigating why there has been a series of fake devaluation news emerging from the DPP, Shire Times has observed a pattern that such news ‘normally’ surfaces each time the Government appears to be making strides on the economic front.

“What I can confirm is that Malawi has, yesterday Tuesday 13th June, received a US$70 million package from donors that has been disbursed to the RBM. In July a further injection of $190 million from donors will get into RBM”, further narrated the official in his response.

According to Government, the donor inflows are as a result of good and working policies that the Government is implementing to the satisfaction of the donors. President Chakwera is reputed to have managed to restore critical relations with both bilateral and multilateral partners that the DPP-led administration massacred.

Meanwhile, Malawi is now geared for the resumption of Extended Credit Facility (ECF) in August and there is an expectation that at that time donor inflows will increase concurrently. This news is too good for the opposition which thrives on misfortunes and agitate for gloomy situations for unpatriotic political mileage purposes.

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