The National Advocacy Platform (NAP) has commended the leadership of President Dr. Lazarus McCarthy Chakwera and his Minister of Finance and Economic Affairs, Simplex Chithyola Banda, for the strides they have made in stabilizing and growing the Malawi economy.

Addressing journalists in Lilongwe on Saturday, NAP chairperson, Benedicto Kondowe, observed that the achievements have been realized through an inclusive and collaborative approach that engages various stakeholders, including government officials, donors, and civil society organizations (CSOs).

Kondowe added that a cornerstone of this success has been President Chakwera’s inclusive policy development process, and actively seeking and incorporating input from diverse interest groups.

“The stabilization of Malawi’s economy following devaluation and the substantial increase in donor funding are clear indicators of growing confidence in our economic policies. Recent inflows, including US$70 million from the World Bank and 93 million Euros from the European Union on July 29, 2024, underscore the effectiveness of our economic strategies and collaborative efforts. These milestones reflect a solid foundation built through transparent and inclusive governance, setting a high benchmark for future economic stewardship,” he said.

But Kondowe was quick to ask the government to exercise exceptional prudence in managing these funds, especially the 55 million Euros in concessional loans, to ensure they are strategically allocated to areas that will drive significant socio-economic progress.

He said this requires not only careful planning, but also a firm commitment to curbing corruption and addressing internal inefficiencies.

“Furthermore, transparency demands that the government disclose any conditions attached to these loans to the Malawian public, ensuring accountability at every level. The ultimate success of these initiatives hinges on the government’s ability to utilize these resources transparently and efficiently, ensuring they truly benefit the nation.

“It is imperative that we recognize and harness these efforts to sustain and further our economic progress. The role of inclusive dialogue and collaboration in achieving these milestones cannot be overstated. As a nation, we must continue to prioritize and support initiatives that foster economic stability and growth, ensuring that the benefits are felt by all Malawians,” emphasized Kondowe.