Reserve Bank of Malawi (RBM) Governor Charles Chuka has said different key strategies that the Ministry of Finance, the Central Bank itself and some development partners are undertaking will result into low and stable inflation.<\/p>\n
Towards the end of last month, RBM reduced the indicative cost of money, technically known as the policy rate, from 24 to 22 percent due to a fall in inflation.<\/p>\n
In an interview after the opening of the fourth Steering Committee Meeting of the African Training Institute (ATI) in Lilongwe yesterday, Chuka said Malawi is striving to create an environment that can attract foreign direct investment.<\/p>\n
The ATI is a training body of the International Monetary Fund (IMF), which was opened in 2013 in Mauritius.<\/p>\n
It joined a network of IMF regional centres around the world in helping develop countries\u2019 policymaking capacity by transferring economic skills and best practices.<\/p>\n
Chuka said the RBM is looking at the key elements in achieving macro-economic stability following the country\u2019s struggles in the last four years because of Cashgate and unfavourable weather patterns.<\/p>\n
\u201cWe are looking at inflation that has come down, giving us an opportunity to reduce interest rates. In the long term, the issue is to sustain low and stable inflation so that we become competitive, at least within the Sadc region,\u201d said Chuka.<\/p>\n
ATI Director Effie Psalida said the institution has the mandate of building human and institutional capacity in its 45-member countries in relation to the IMF\u2019s expertise on macro-economic management, fiscal policy and monetary and exchange rate policy.<\/p>\n
She added that in the past 10 to 15 years, the sub-Saharan Africa region has had a strong economic growth as compared to the rest of the world.<\/p>\n
\u201cOf course, that has changed for the past few years, especially for countries that are rich in natural resources and commodity prices have gone down and those countries have suffered in terms of their economies,\u201d said Psalida.<\/p>\n","protected":false},"excerpt":{"rendered":"
Reserve Bank of Malawi (RBM) Governor Charles Chuka has said different key strategies that the Ministry of Finance, the Central Bank itself and some development partners are undertaking will result into low and stable inflation. Towards the end of last month, RBM reduced the indicative cost of money, technically known as the policy rate, from […]<\/p>\n","protected":false},"author":3,"featured_media":43823,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-43817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/43817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=43817"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/43817\/revisions"}],"predecessor-version":[{"id":43827,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/43817\/revisions\/43827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/43823"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=43817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=43817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=43817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}