President of Malawi, Lazarus Chakwera has reportedly placed a ban on himself and his cabinet from all international travels in a cost cutting measure.
President Lazarus Chakwera made this known during a televised address on Thursday, November 16.
The move is coming after a significant devaluation of the currency as Malawi secures a loan from the International Monetary Fund (IMF) to boost its ailing economy.
The President also ordered all ministers currently abroad to return home.
He also announnced a 50 percent cut for Fuel allowances for senior government officials.
Malawi’s economy has in recent times undergone turbulent times, with acute shortage of petrol and diesel, and high inflation.
President Chakwera said the cost-cutting measures would remain in place until the end of the financial year in March 2024.
He also directed the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review even as he ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.
