ECAMA hails authorities’s determination to limit imports, citing foreign exchange management and financial development

By Jones Gadama

The Economics Association of Malawi (ECAMA) has recommended the federal government’s determination to impose restrictions on importing items from outdoors the nation.

According to ECAMA President, Bertha Bangala Chikadza, this transfer will assist management overseas alternate (foreign exchange) and promote financial growth.

Chikadza emphasised that some imported items have been depleting the nation’s foreign exchange reserves.

By limiting these imports, the federal government can preserve foreign exchange and allocate it to extra strategic areas.

“We believe that this decision will have a positive impact on our economy,” Chikadza stated. “By controlling imports, we can promote local production, create jobs, and stimulate economic growth.”

Peter Mumba, one other stakeholder, has appealed to the general public to work along with the federal government to make sure the sustainability of the import ban.

“We need to support the government’s efforts to promote local production and reduce our reliance on imports,” Mumba stated.

The restricted items embrace:

• Food merchandise: flour, milk, rice, fruits, meat, sausage, and eggs
• Other necessities: toothpicks

ECAMA, knowledgeable and unbiased physique of economists, goals to supply evidence-based financial recommendation to advertise Malawi’s financial growth.

The affiliation encourages open debate and coverage dialogue on financial points.

The authorities’s determination to limit imports is a big step in direction of selling native manufacturing and decreasing the nation’s reliance on overseas items.

By working collectively, stakeholders can make sure the success of this initiative and promote financial development and growth in Malawi.