Malawi Cables
The struggling administration of outgoing President Lazarus Chakwera and the Malawi Congress Party (MCP) has resorted to desperate measures, reportedly conducting home searches for individuals holding foreign currency.
This comes as the country’s forex reserves have dwindled to critical levels, with less than a day’s cover, exacerbating shortages of essential goods such as fuel and medical supplies.
Accompanied by Malawi Police and Central Bank officials, the government is cracking down on private forex holders in an attempt to address the crisis. Since assuming office in 2020, Chakwera’s administration has faced mounting economic challenges, with a 44% currency devaluation failing to deliver the promised recovery.
With just seven months until the next elections and no visible signs of economic stabilization, the government’s actions appear to be shifting the burden onto citizens for a crisis of its own making.
