By Burnett Munthali
Blantyre, Malawi — Former President Bakili Muluzi has stressed the urgent need for national dialogue to address the growing debt crisis Malawi is facing. Speaking to Times reporters this afternoon at the United Democratic Front (UDF) National Convention, Muluzi highlighted the alarming rise in the country’s debt, which now exceeds K15 trillion.
Muluzi, who remains an influential voice in Malawian politics, emphasized that the ballooning debt is a clear sign that the country’s economy is in dire straits. “The rising debt levels, now surpassing K15 trillion, indicate that our economy is not performing well. There is an urgent need for us to have national discussions and come up with solutions before this situation worsens,” he said.
He further warned that if nothing is done, the national debt could escalate to as much as K19 trillion or even K20 trillion in the near future. Muluzi cautioned that such an unsustainable debt burden poses a significant threat to Malawi’s financial stability. “If we reach these levels, Malawi risks being classified as a bankrupt nation, and that is a very dangerous situation,” Muluzi added.
The former president’s remarks have resonated with many attending the convention, as the issue of public debt has been a growing concern among economists, political leaders, and ordinary citizens alike. As Malawi continues to grapple with its economic challenges, calls for reform and dialogue are becoming more pressing.
The UDF National Convention, which is currently underway at COMESA Hall in Blantyre, has drawn significant attention, with Muluzi’s comments adding weight to the discussions on the future of Malawi’s political and economic direction.
Burnett Munthali is a political analyst and journalist covering Malawian politics and socio-economic issues.
