This time the independence of responsible monetary control quickly exposes a fiscal fraud.’3 The main Opposition party campaigned in the election on a commitment to get interest rates reduced, not by leaning on the central bank but by ‘giving monetary policy some mates’ through tighter fiscal policy and deregulation of the labour market.
I would also like to see banks applying more innovation in serving some of the important but under-served sectors such as agriculture, tourism, to name but a few. The financing for the production of exports is really what will take this country forward. I am pleased to note that there are a few investors in Malawi who have taken up production for exports.