Both the World Bank and the International Monetary Fund have demanded the views of a cross section of leaders of public opinion in the country, as to determine how the money from the debt relief programme should be used. This will ensure accountability and transparency. All this comes in the wake of reports of widespread corruption in government circles, involving senior civil servants as well as cabinet ministers corruption which has caused the government to lose a great deal of taxpayer s money. The Malawi Economic Justice Network, a body dedicated to promoting social equality, has spoken out critically about the government s handling of the economy. The Network says Malawi will never find a solution to its poverty situation as long as it continues to ask for, and receives loans.
Borrowing is no solution.
It does more harm than good to the country. The government should make every effort to reduce looking for loans, and instead intensify its poverty reduction programmes, by making every effort to improve the economy through people s own efforts. In this way they will no longer depend on the government for everything. Exley Silumbu is the chief economist at the Conference of Chambers of Commerce and Industry. He attributes some of Malawi s problems to high interest rates which, he says, are harmful to the country s fragile economy .