MALAWI IN A CRISIS: Forex Crisis Creates Fuel Crisis

Fuel pumps across the country are dry because President Chakwera’s government has no forex to buy fuel anymore.

Malawi has been surviving on fuel reserves which are now completely dry. Government depleted forex because of the president’s extravagant travels on hired jets.

As soon Chakwera came to power MCP closed the IMF program which was bringing in forex in the time of Peter Mutharika. Chakwera and his cronies have also been externalizing money big time by sending money to their offshore accounts from high corruption deals like the Sattar syndicate.

Now Malawi looks like a war ravaged country after two years of economic mismanagement as Malawi cannot buy fuel, hospital drugs, food and fertilizer.

Fuel on the black market has reached K3000 per liter in Salima, K3500 in Ntchisi and K4000 in Nkhotakota. Malawians are paying this high cost when small businesses are failing because of blackouts.!

This fuel crisis is worsened by nationalwide blackouts and power shutdowns because ESCOM and EGENCO are equally failing to buy service equipment due to forex shortage in the country.

Chakwera is however currently preparing to travel to UNGA and he will use One Million Dollars in forex for the trip.

The post MALAWI IN A CRISIS: Forex Crisis Creates Fuel Crisis appeared first on Malawi Voice.