Unrest in Malawi: Rising Prices and Economic Crisis Ahead of Elections

Malawi is experiencing protests over inflation and rising food prices ahead of the September elections. The country faces severe economic challenges, with prices skyrocketing and public dissatisfaction evident across multiple cities. The government has taken measures to encourage local production but critics question the effectiveness of these strategies as the election approaches.

Malawi is currently facing significant unrest due to surging prices just months before the upcoming elections in September. The country is enduring its most severe economic crisis in decades, with inflation reaching 30% year-on-year as of February. In the Tsoka second-hand clothing market in Lilongwe, traders like Steve Magombo, head of the vendors’ association, have expressed their frustration at rising living costs, which prompted him to lead 5,000 vendors in a major demonstration to parliament, marking one of the largest protests the capital has seen in years.

The public’s dissatisfaction is not isolated to Lilongwe; similar protests have emerged in at least four other cities, illustrating widespread unrest in a nation where approximately 75% of its 21 million inhabitants live in extreme poverty. The economic crisis has severely affected food prices, with inflation for staple goods such as maize soaring to 38.5% in February. A 50kg bag of maize has surged to 110,000 kwacha ($63), almost tripling since December, surpassing the national minimum wage of $52 and considerably higher than the $26 earned by many domestic workers.

UK-based policy expert James Woods remarked, “For a net-importing country, the collapse of the kwacha has been catastrophic, fuelling import costs and further stoking inflation in a vicious cycle.” The kwacha has lost over half its value since 2022 due to substantial devaluations, while businesses are hindered by foreign currency shortages that complicate imports and disrupt supply chains.

In response to the crisis, the Malawian government has imposed bans on certain imports, including Irish potatoes, maize flour, fresh milk, and meat products, in an effort to bolster local production. However, critics argue that the government lacks a coherent strategy to stabilize the economy. Gift Trapence, leader of the Human Rights Defenders Coalition, commented, “The government seems to have no clue on how to bring the economy back on track.”

As the elections approach, President Lazarus Chakwera, who won 58% of the vote in 2020, is facing a daunting challenge, particularly with former president Peter Mutharika, aged 85, attempting to reclaim political power. The escalating economic crisis is intensifying the pressure on the government to take actionable steps before the impending elections.

In summary, Malawi is grappling with widespread protests driven by soaring prices as the nation faces its most severe economic crisis in decades. The rising cost of essentials, especially food, has significantly impacted the population, with inflation and currency devaluation compounding the issues. As the September elections approach, the government is under substantial pressure to implement effective strategies to address these economic challenges, particularly in light of public dissent and the looming electoral contest.

Original Source: newscentral.africa