Economist Intelligent Unit sees kwacha weakening by 9% | The Times Group: United Kingdom-based economic think-tank, the Economist Intelligent Unit (EIU), has predicted the local trading unit, the kwacha, will weaken by about nine percent in 2019.
The forecast comes at a time the Reserve Bank of Malawi (RBM) has predicted a stable kwacha in 2019.
The EIU further says fiscal consolidation after the election should reduce the downward pressure on the currency in 2020.
According to Nico Asset Managers’ 2018 Annual Economic Report released on Wednesday, EIU says between 2021 and 2022, a weaker US dollar and higher exports aided by a strengthening in the prices of some of Malawi’s agricultural exports should provide further modest support to the kwacha.
The forecast comes at a time the Reserve Bank of Malawi (RBM) has predicted a stable kwacha in 2019.
The EIU further says fiscal consolidation after the election should reduce the downward pressure on the currency in 2020.
According to Nico Asset Managers’ 2018 Annual Economic Report released on Wednesday, EIU says between 2021 and 2022, a weaker US dollar and higher exports aided by a strengthening in the prices of some of Malawi’s agricultural exports should provide further modest support to the kwacha.
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