Friday, August 19News That Matters

CDEDI Namiwa Warns Chakwera To Use Forex For Essential Services

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The Centre for Democracy and Economic Development Initiatives – CDEDI is cautioning the Chakwera administration to move with speed in ensuring that the little forex available in the country is used for essential services alone.

This has been said at a press briefing the organization is holding in Lilongwe.

Executive Director for CDEDI, Sylvester Namiwa, has pointed out that the current challenges brought by shortage in foreign exchange is a sign that the Chakwera administration is sleeping on its job.

Namiwa fears that failure to resolve the issues will lead to continued scaling down of business and rationing of essential goods.

As he calls for Chakwera to act swiftly, he also demands that high-ranking officials that are allegedly involved in forex externalization must not be shielded.

A member of the organization, Mundango Nyirenda, has since questioned whether the current MK825 exchange rate for a US Dollar is indeed a true reflection of what the exchange rate is.

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