Kwacha devaluation sparks massive price rises
27/11/2023
On 9 November 2023, the Malawi Government devalued the national currency, the kwacha, by 44% against the dollar (see this BBC News item). The purpose was to increase the purchasing power of Malawi’s foreign exchange, which is held in dollars. Devaluation makes Malawi’s exports more valuable. Whereas a dollar was ...
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