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Malawi is one of the three countries out of 46 economies in Africa with the highest working poverty rate at 70.18 percent, United Nations Economic Commission for Africa (Uneca) data shows. International Labour Organisation (ILO) describes the working poverty rate as the proportion of the employed population living in poverty despite being employed. This implies

Results of the foreign exchange auction held on Monday left the Reserve Bank of Malawi (RBM) and authorised dealer banks (ADBs) with a K1 063.86 dollar exchange rate effective today, up from K1 036. But the nearly 40 percent spread between the official central bank exchange rate and the cash rate, also known as telegraphic

Malawi’s year-on-year headline inflation rate continues to rise and hit a 10-year high of 29.2 percent in May pushed up by continued rise in food prices, figures show. This is the highest recorded inflation rate after it hit 35.8 percent in April 2013 during the reign of former president Joyce Banda when the impact of

There are mixed reactions to the Reserve Bank of Malawi (RBM) plan to re-introduce customs declaration forms for exports to help track forex flows with some stakeholders arguing the move could fuel tax evasion. In a statement, RBM Governor Wilson Banda said the measure, set to come into effect on May 17, will ensure that