The Reserve Bank of Malawi (RBM) has categorically denied reports circulating on social media that the International Monetary Fund (IMF) has recommended a 60 per cent devaluation of the Malawi Kwacha.
In a statement released on September 11, 2024, RBM Governor Dr. Wilson Banda assured the public that there are no plans to devalue the local currency.
The Bank urged the public to rely on official sources for information on monetary policy and to disregard false reports that can cause unnecessary speculation, panic, and uncertainty in the economy.
The statement comes amid rumours and speculation on social media about the future of the Malawi Kwacha, which the RBM has now put to rest.
By dismissing the rumours, the RBM aims to reassure the public and maintain confidence in the economy.
