BLANTYRE-(MaraviPost)-The firing of Reserve Bank of Malawi (RBM) Governor Wilson Banda is being heralded as a daring transfer by President Lazarus Chakwera to “tighten the grip” on fixing Malawi’s ailing economic system.

Yet, this resolution raises a obtrusive query: if Banda was sacked for his alleged failures, why have the Finance Minister, Simplex Chithyola Banda, and Secretary to the Treasury, Betchani Tchereni, been spared the identical destiny?

The Reserve Bank Governor operates inside a broader framework of fiscal and financial administration, one that’s largely formed by the Ministry of Finance and Treasury. To lay all of the blame for Malawi’s present financial malaise solely on Banda is each simplistic and hypocritical.

Under Banda’s tenure, inflation soared to unprecedented ranges, the kwacha endured brutal devaluations, and Malawi confronted persistent foreign exchange shortages.

While these points are damning, they can’t be considered in isolation from the Finance Ministry’s fiscal insurance policies or the Treasury’s stewardship.

The Finance Minister has presided over unsustainable public borrowing, with debt servicing now consuming a staggering chunk of our nationwide price range.

Meanwhile, the Treasury has didn’t institute reforms or curb rampant mismanagement of public funds. This trifecta of financial and financial chaos has left Malawians poorer, companies crippled, and buyers cautious.

If the Reserve Bank Governor is being proven the door for “failing to execute policies,” then absolutely those that are liable for formulating these insurance policies—particularly the Finance Minister and the Secretary to the Treasury—should additionally shoulder the blame.

Are we to imagine that these people are innocent whereas the Governor bears the total weight of Malawi’s financial failures?

The reality is, Banda was doubtless a scapegoat. His sacking appeases public frustration with out addressing the systemic points plaguing our economic system. It is a political maneuver, not a real try at reform.

President Chakwera has repeatedly promised decisive management and accountability. Yet, his administration appears to use these rules selectively. If incompetence and poor efficiency are the yardsticks for dismissal, then the Finance Minister and Treasury Secretary should not be spared. Their roles are integral to financial stability, and their failures are as obtrusive as Banda’s.

The President owes Malawians an evidence: why cease at Wilson Banda? Why ought to those that preside over fiscal recklessness, failed reforms, and unmitigated corruption stay untouchable?

If Malawi is to rise from its financial abyss, we’d like greater than scapegoating; we’d like real accountability throughout the board. This requires daring management keen to make laborious choices—not simply towards one man, however towards a whole equipment of dysfunction.

Mr. President, the individuals of Malawi are watching. Your resolution to spare the Finance Minister and Treasury Secretary undermines the credibility of your financial reforms and sends a harmful message: that loyalty, not competence, determines survival in your administration.

It’s time to match rhetoric with motion. If Wilson Banda was fired for failing the economic system, then let the axe fall equally on all these whose insurance policies and choices have contributed to this mess. Anything much less is a disservice to Malawians.

Additional data: Nyasa Times

The submit Mr President, fire also incompetent Finance Minister Chithyola, Treasury Secretary Tchereni appeared first on The Maravi Post.

Source