
18/07/2025
Chakwera calls for urgent action to economic stability
Lilongwe, June 18: President Dr Lazarus Chakwera has called for urgent action to addressing economic challenges affecting the country saying such actions are key to achieving economic stability in the country.
He made the remarks Friday during Reserve Bank of Malawi (RBM) 60th anniversary celebrations held at Bingu International Conference Centre (BICC) in Lilongwe.
He said there is need for achievers who can remove structural bottlenecks that hinder productivity and growth in the private sector and those who can fulfill the Central Banks’s mandate to achieve price and financial stability hence the call for action.
“When you look at the skyline of Lilongwe City, the imposition of RBM towers above the rest which is a reminder that this country’s institutions were established not only by talkers but doers and I dare say that time for doers to rise again has come,” he said.
He said the country needs go-getters who can put aside petty differences and forge alliances across institutions to create access to credit, to enable Small and Medium Enterprises growth and to facilitate investment in critical sectors.
He urged the Bank to be strong enough to regulate the country’s complex, growing and globally connected financial sector, support macroeconomic growth even in the turbulent times of global recessions, domestic shocks and the compounding effects of climate change, pandemics and geopolitical disruptions.
He, therefore, encouraged financial leaders to be bold enough to support the country’s recovery from the cycle of shocks that have placed the economy under enormous strain over the past decade.
“If those of you who are charged with running the Bank towards the achievement of Malawi 2063 are the new generation of doers we need, then I pledge you my full support,” Chakwera said.
Minister of Finance and Economic Affairs, Simplex Chithyola Banda, applauded the Bank over the great transformation it has undergone over the decades, saying it has expanded in size, scope and impact, evolving from traditional monetary authority into a dynamic institution that anchor macroeconomics stability.
RBM Governor, McDonald Mafuta Mwale, commended the President for championing economic stability in the country.
The 60th anniversary is being celebrated under the theme “Safeguarding Economic Stability for a Future of Innovation and inclusive Growth”.
By Eunice Disi Lole