MUTHARIKA CALLS FOR CABINET CRISIS MEETING OVER ECONOMY MELTDOWN TONIGHT President Peter Mutharika is choking under a wave of disillusionment from Malawians over the sudden tumble of the local currency, Kwacha, which threatens his five-month leadership. As such he has called for a crisis cabinet meeting which might determine his future as it is clear that even his own ministers dont trust his leadership strategies. Inside sources at State House say the President has been calling business gurus and economic experts the whole morning in trying to understand what is going on. The time Mutharika became President in May, the Kwacha was trading at K390 to a dollar and that has changed to K520 as of this week. This morning he called Professor Chikaonda and Thom Mpinganjira in long telephone calls. He begged the two men to mobilize the financial sector to brainstorm on what might be done to reverse the worrying trend, said the source adding, for sure the economy is giving the President sleepless nights
Posted on: Wed, 05 Nov 2014 14:08:32 +0000
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