Malawi central bank official says reserves nearly empty
A spokesperson for Malawi’s central bank has said the country’s foreign exchange reserves cannot cover a month of imports, according to media reports.
Ralph Tseka, a spokesperson for the Reserve Bank of Malawi (RBM), said the country was spending $50 million each month importing fuel. The International Monetary Fund demanded a special audit of the central bank’s reserves after discovering it had misreported them under a previous government in 2018.
The IMF estimated the country’s “unencumbered
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