The Consumers Association of Malawi (Cama) has asked government to work on the current economic situation which has been beset with high inflation rate, high interest rates and the depreciation of the kwacha.
At a press briefing on Monday in Blantyre, where Cama launched a campaign dubbed ‘Poor Lives Matter’ aimed at speaking for vulnerable Malawians, Cama’s Executive Director John Kapito said the government needs to address these economic issues urgently.
According to Kapito, the situation has gone out of hand and Malawians are suffering.
“The depreciation of the kwacha has brought a number of challenges, one of which is that the cost of living which has gone up. Malawi’s inflation rate is one of the highest in the region, and we have noted the two factors are excessively making it impossible to borrow money from banks and it is making Malawians poorer,” he said.
Kapito further trashed the excuse by most government officials who say that the tough economic situation is global.
“Most countries are able to tame interest rates and inflation thereby allowing their people to access basic goods. In Malawi, the situation is worse and Malawians are getting poorer and poorer,” he said.
He, therefore, said it is high time Malawians fought for their socio-economic rights.
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