21 December 2016 Last updated at: 9:30 AM

Introduction of new K2000 draws criticism from Malawians

People in the country say they have not welcomed the new K2000 bank note which went into circulation on Monday.

When the Reserve Bank of Malawi (RBM) announced its plans to introduce the K2,000 note, the bank’s governor Charles Chuka said the introduction of the note has been necessitated due to the depreciation of the kwacha and inflation.

Chuka added that the introduction of the note will also ease the burden of carrying huge sums of money when conducting business transactions.

However, commenting on a post on this publication’s Facebook page, Malawians feared the new note will come with economic consequences for ordinary people in the country.

Malawi-K2000-bank-note

Not in good books of Malawians.

Many commenters said government should not have introduced the K2000 note claiming it will lead to a rise in prices.

“Dziko lomvetsa chisoni, kuteleku ena akusangalala? Sakudziwa kuti ndi kutha mphavu kwa ndalama kumeneku? Ku Zimbabwe pano akuyendera ndalama za dziko lina nkhani yake inayamba momwemu. Ndiye mbuli zina zimvekere tailandira ndi manja awiri, zomvetsa chisoni dziko lodzadzana ndi mbuli komaso umphawi,” said Ishmael Chiponda.

Harry Chapola concurred with Chiponda saying: “Kutuluka kwandalama ngati iyi sichinthu chonyadila kapena kuseketsa koma ndikugwa mphamvu ya kwacha. Apa mpongofunika boma kuti lichitepo kanthu pokhazikitsa njira zochepetsera umphawi mdziko muno, pakuti kulozana dzala sikutanthauza kanthu!!!”

While Davlen Chiweza said: “Having this note can change nothing on our economy, are prices of items go down? But I have to thank our govt that it is working hard on hunger, not the nonsense of many big notes, is this the development you were promising? Is this your milestone? Doesn’t it cost much to print and introduce a new note? But others welcomed the note saying they are tired of carrying too much cash.

“Money need to be portable ituluke isatuluke mphamvu yandalamayo ndiyomweyo basi. I’m personally welcoming this Trump it will help in easy carrying of the cash. Enanu phokoso basis mukufunika civic education,” said Frank Mbawa.

While Garnet Blazio said: “What we need ndi njira zopezera ndalama mosavuta; or atakonza 100 billion ndilibe nazo ntchito, chifukwa dziko likusintha every day.” However, other Malawians felt powerless saying there is nothing they can say on the issue since government already decided to introduce the note without consulting them. Meanwhile, it has been established that Malawi will have in the coming years a higher bank note than the newly introduced K2000 as reports shows that the highest note should be an equivalent of $5 and the new K2,000 is falling short of the requirement.

 



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