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The kwacha (/ ˈ k w æ tʃ ə /; ISO 4217: MWK, official name Malawi Kwacha [2]) is the currency of Malawi as of 1971, replacing the Malawian pound. It is divided into 100 tambala . The kwacha replaced other types of currency, namely the British pound sterling , the South African rand , and the Rhodesian dollar , that had previously circulated ...
On the advice of the International Monetary Fund, in May 2012 Banda devalued the Malawian kwacha, something Mutharika had refused to do. The announcement of the kwacha's devaluation by 33 per cent against the United States dollar, an attempt to attract donor funding, prompted "panic-buying" in Malawian cities, the BBC News reported. [57]
The service sector accounts for 51.7% of Malawi's national GDP. Notable industries are tourism, retail, transport, education, health services, telecommunication and the banking sector. The Government of Malawi holds shares in many important companies, such as Malawian Airlines (51%) and Press Corporation Limited. Press Corporation Ltd. is the ...
Malawi's main opposition party, the Democratic Progress Party endorsed on Sunday former President Peter Mutharika to be its candidate in next year's presidential election. Mutharika, 84, who was ...
What is currency devaluation and why would a country devalue its currency? Skip to main content. News. 24/7 help. For premium support please call: 800-290-4726 more ways to reach ...
This article lists events from the year 2025 in Malawi. Incumbents. President: Lazarus Chakwera; Vice-President: Michael Usi (since 21 June) Events.
The Minister of Finance and Economic Affairs is a minister in the Cabinet of Malawi [1] [2] who is responsible for the financial management of government affairs, including attending national budget, and developing economic policy. [3]
The Malawi government said Wednesday that Vice President Saulos Chilima will be honored with a state funeral after he died in a plane crash along with eight other people. President Lazarus ...