Malawi at risk in wake of currency devaluation
The Reserve Bank of Malawi revealed that economic liberalisation intensified risks to the country's financial stability in a report published on January 31.
In May 2012, the Malawian kwacha was devalued by approximately 50% and the government adopted a floating exchange rate regime as part of a policy overhaul to liberalise the country's economy. In the aftermath, the report says, domestic macroeconomic and financial risks intensified.
The kwacha continued to depreciate and, in addition to
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