• November 29, 2022 6:20 pm

Ukraine war is affecting Malawi economy – US

Sep 28, 2022

President Lazarus McCarthy Chakwera’s critics always play down how the weight of Ukraine war has affected the country’s economy.To them, Chakwera is to blame for the soaring prices of commodities in the country and the war is just an excuse.

But speaking at the signing of the second compact of the Millenium Challenge Corporation on Wednesday at State Department in Washington DC, the United States Secretary of State Antony Blinken acknowledged that the Russia invasion of Ukraine has ruined the economies of smaller countries of Malawi’s stature.

Blinken said countries such as Malawi have severely suffered from the ongoing conflict the most as more people have rolled back into poverty and the development gains registered over time have been stalled.

He said: “Now President Putin’s war of choice on Ukraine has contributed to the driving up of the prices of commodities, prices of fuel, prices of fertilizer as well as well as their availability in many countries including Malawi, rolling back some of the devopment gains and driving back many people in poverty”

On this note, Blinken pledged his government’s support throughout the troubling period until the situation normalises.

“I can tell you that the United States is committed to work with you not only to get through the stormy period but to get to a brighter enduring day and this day is one of them”

Some notable faces at the function were President Chakwera himself, Minister of Finance Sosten Gwengwe and MCC CEO Alice Albright.

MCC second compact plus will see Malawi benefiting from the US government with the grant of $350 million which intend to improve roads infrastructure in the country.

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