Lazarus Chakwera, the president of Malawi, has suspended foreign travel for him and his cabinet’s in order to lower state spending.
President Lazarus Chakwera also imposed a 50% reduction on senior government officials’ fuel allowances and ordered all ministers who are currently overseas to return to the nation.
According to Mr. Chakwera, the actions that were announced this Thursday, November 16, will be in effect until 2024.
Due to its economic difficulties, Malawi is experiencing higher food and fuel costs as well as a shortage of foreign currency. The central bank of the nation declared last week that it was devaluing the local currency by around thirty percent in relation to the US dollar.
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