Mutharika's Strategic Cabinet Choices in Face of Economic Challenges
Malawi's President Peter Mutharika has appointed Joseph Mwanamvekha as finance minister amid economic challenges. Mwanamvekha, an economist and former banker, returns to this role as Malawi grapples with currency instability and debt issues. Mutharika has yet to finalize his cabinet amid efforts to stabilize the economy.
- Country:
- Malawi
Newly-elected President of Malawi, Peter Mutharika, has reinstated Joseph Mwanamvekha as finance minister as the nation tackles economic hurdles including foreign exchange shortages and the increasing cost of living. Mwanamvekha, an economist and former banker, previously served in this capacity from 2016 to 2020 under Mutharika's earlier leadership.
This appointment is part of a strategic move as Malawi continues to face persistent fuel shortages, significant debt, and a volatile business climate. Mutharika, inaugurated last Saturday after winning the presidential election, is yet to announce the full cabinet lineup. Other notable appointments include Enoch Chihana as second vice president and George Chaponda as foreign affairs minister.
Mutharika, a former law professor, was recognized for curbing inflation and enhancing infrastructure during his previous term from 2014 to 2020. Despite these achievements, he confronted accusations of cronyism, which he has consistently denied.
(With inputs from agencies.)
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