Faced with a shortage of forex and an economic slump for which it needs an International Monetary Fund loan, Malawi has deliberately weakened its own currency
Zambia’s central bank has called an emergency meeting to discuss the recent drop in its currency, the kwacha.
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/ 10 January 2012
The International Monetary Fund has told Malawi to devalue its kwacha to address its foreign exchange shortage and stem its thriving black market.