Malawi’s Debt Hits K16.19 Trillion – We Must Borrow Wisely,” Says Finance Minister Chithyola Banda
Published on February 28, 2025 at 2:43 PM by Evance Kapito
Malawi’s national debt has surged to K16.19 trillion as of September 2024, according to Finance Minister Simplex Chithyola Banda.
Speaking in Parliament while presenting the 2025-2026 national budget framework, Chithyola Banda stated that the government is engaging lenders to renegotiate debt terms and ease repayment conditions.
He emphasized that improving domestic revenue collection through taxes is key to reducing reliance on borrowing. Moving forward, he assured that the government will only take on debt under favorable conditions to ensure sustainable economic growth.
