The IT revolution has not simply allowed a worker to turn the crank faster on an improved machine (the traditional way we think of technological innovation) but opened the possibility of fundamentally altering the way production (or provision of a service) takes place. In this way, IT can contribute larger productivity improvements when an economy has flexible labor, product, and financial markets.
Authorized dealer banks should also ensure consistency and uniformity of policy implementation in carrying out duties entrusted to them through strict and impartial application of Exchange Control instructions. Banks are therefore encouraged to consult the Reserve Bank of Malawi whenever in doubt with regard to the interpretation and implementation of exchange controls. Trade liberalization ushers in new challenges in terms of Exchange Control administration.