Malawi imposes withdrawal limit on Embassies

Malawian President Lazarus Chakwera

The Malawian central bank has imposed limits on how much diplomats and their embassies can withdraw from their foreign currency accounts.

Embassies are restricted to withdrawing no more than US$15,000 a month, while individual diplomats cannot withdraw more than US$3,000.

Malawi’s economy is struggling due to incompetence and corruption under President Lazarus Chakwera’s regime.

Renowned Zimbabwean investigative journalist Hopewell Chin’ono says the situation is bad in Malawi adding that some diplomatic missions are mulling relocating to countries like Zambia, Zimbabwe or South Africa.

“The situation is so dire that some embassies are threatening to relocate to Zambia, Zimbabwe, or South Africa, according to a foreign diplomat I spoke to,” he says.

Zwnews