Malawi’s Economic Resilience Concerns Amid Global Slowdown

A senior Reserve Bank of Malawi economist, Kisu Simwaka, warned that Malawi cannot afford to rely on external demand or donor support as the global economy slows. The country is underperforming even by regional standards and must accelerate reforms to strengthen economic resilience.

Simwaka emphasized that the expected decline in global growth to 3.1 per cent from 3.5 per cent signals a more challenging external environment for African economies, particularly those dependent on commodity exports and foreign aid.

The economist stated, 'The message is clear: the world economy is slowing down. And Malawi must accelerate,' highlighting the urgency for immediate economic adjustments to counteract the global slowdown's impact.