By Burnett Munthali
The Malawi Congress Party (MCP) youth wing has issued a strong rebuttal to Dr. Dalitso Kabambe’s recent open letter to President Lazarus Chakwera, accusing the former Reserve Bank of Malawi (RBM) Governor of being responsible for the economic hardships currently facing the country. The response, which was published on the MCP youth wing’s Facebook page, dismisses Kabambe’s concerns about Malawi’s economic crisis, arguing that he played a key role in creating the very problems he now complains about.
In their letter, the MCP youth wing outlines multiple ways in which they believe Dr. Kabambe “destroyed” Malawi’s economy during his tenure as RBM Governor. They accuse him of account manipulation, stating that he misrepresented Malawi’s financial data to create a false impression of economic stability. According to the response, Kabambe inflated foreign reserves to mislead policymakers, which resulted in poor economic decisions and reckless government spending that worsened the country’s financial position.
The response also alleges that Dr. Kabambe’s actions led to distorted fiscal policies, arguing that his manipulation of economic data made it impossible for the Reserve Bank to effectively manage inflation or stabilize the local currency. This, they say, contributed to the devaluation of the Kwacha, which has led to soaring prices of essential commodities.
Furthermore, the MCP youth wing claims that Kabambe’s leadership at RBM scared away foreign investors. They argue that his financial misreporting created uncertainty in the investment sector, making Malawi an unattractive destination for international businesses. This lack of foreign investment, according to the response, has denied the country much-needed jobs, technology, and economic opportunities.
Another major accusation leveled against Kabambe is that his financial manipulations undermined trust in Malawi’s banking system. The response states that falsified economic records damaged the credibility of financial institutions, causing many people to turn to the informal economy rather than rely on banks. This, they argue, has made it difficult for legitimate businesses to thrive.
The response goes further to claim that Kabambe’s actions blocked international financial assistance. According to the MCP youth wing, his alleged falsification of economic data resulted in Malawi losing credibility with international donors and financial institutions. As a result, they say, the country struggled to secure loans and grants for essential sectors such as infrastructure, education, and healthcare.
Financial instability is another issue that the youth wing blames on Kabambe. They argue that his misrepresentation of economic data hid serious financial challenges within Malawi’s banking system. This, they claim, created a false sense of security and increased the risk of banking crises and currency devaluations, leading to business closures and rising unemployment.
Additionally, the response accuses Kabambe of enabling corruption by allowing financial mismanagement to go unchecked. They argue that his actions made it easier for corrupt individuals and money launderers to operate without fear of scrutiny, thereby worsening Malawi’s economic crisis.
Finally, the MCP youth wing asserts that Kabambe’s actions obstructed sustainable economic growth. They argue that without accurate economic data, the government was unable to plan effectively or attract investment, which has slowed down progress in reducing poverty and improving living standards.
The response concludes by stating that Dr. Kabambe’s tenure as RBM Governor contributed significantly to Malawi’s current economic struggles, including high inflation, fuel shortages, and a lack of foreign currency reserves. Instead of writing letters to criticize the current administration, they argue that he should take responsibility for his past actions.
“Malawians are suffering because of the mistakes you made,” the response states. “If you truly care about Malawi, admit your failures and stop playing politics. We need leaders who are honest and accountable, not those who hide the truth and destroy our economy.”
The exchange between Dr. Kabambe and the MCP youth wing highlights the ongoing political and economic debate in Malawi, with both sides blaming each other for the country’s challenges. As the 2025 elections approach, such exchanges are likely to intensify as political players position themselves ahead of the polls.
