By Chisomo Phiri
The Reserve Bank of Malawi (RBM) has clarified details on its comprehensive loss of K543 billion for the financial year ending December 31, 2023.
According to RBM spokesperson Mark Lungu, this loss is primarily due to foreign exchange revaluations rather than operational inefficiencies.
Lungu says the RBM’s financial operations in 2023 resulted in a profit of K158 billion before accounting for foreign exchange revaluations.
“The comprehensive loss was attributed to a significant mismatch between the bank’s foreign assets and foreign liabilities,” explains Lungu.
He adds that the bank’s foreign liabilities stood at K2.76 trillion, while its foreign assets were valued at K600 billion at the end of 2023.
 has clarified details on its comprehensive loss of K543 billion for the financial year ending December 31, 2023. According to RBM…){kind=link}