AACC Wants Finance Minister Account for Malawi's K6. 3 tn Debts
The All African Conference of Churches (AACC) has expressed concerns that the Minister of Finance is yet to account for the country’s K6. 3 trillion accumulated debts; explaining how they were taken and used, four months after the revelations.
The body's Economic Justice and Accountability Ambassador in Malawi who is also Deputy General Secretary for CCAP Blantyre Synod, Reverend Baxton Maulidi, told Zodiak Online on Friday that the minister has not come out to account for the debts, which signals a disregard for the people's voice.
"It's very unfortunate because we expected the minister of finance to do that before the just ended mid-year budget review meeting had risen which would possibly help Malawians to understand the root of the current social-economic challenges facing the country. But now we have not heard anything, it is a sign of disregard to our call," Reverend Maulidi said.
Minister of Finance, Sosten Gwengwe referred us to the ministry' spokesperson, Taurai Banda who was not immediately available for comment.
However, economist Gilbert Kachamba, thinks that responsibility lies with Parliament that approves the debts not the minister.
"I don't think it's necessary for the Minister to account for that. This is because we have Parliament which has the oversight role and they approve the loans. So the parliamentarians should be the one giving us the reports on how the loans were used for," he said.
In September this year, Gwengwe reported that Malawi's public debt as of May 2022, stood at K6.3 Trillion from K5.7 Trillion the previous year, representing K600, 000 per individual.