Chuka?!

 

Last week, Reserve Bank of Malawi Governor Chuka took an interesting position: he blamed the “politicians” for the economic problems that are dogging Malawi. Now the bank is under control of elected politicians who are supposed to represent the people of Malawi, charles_chukuand who are supposed to control the technocrats. So theoretically there should not be a problem. Of course the problem is that the politicians are not serious about representing us, they are representing their own short term interests, rather than the interests of the population. Chuka seemed to suggest that it would be better if politicians had no control over the bank, but that it should be run by technocrats. An employee criticizing his superiors this way is an interesting breach of the chain of command, that may get him in trouble. Or is it that he already has another career on the line? We will find out.rbm-b55b-ad1

But there is a bigger issue with his position: he asserts that running the Reserve Bank is a technical, non-political issue. And that is definitely not true. He even praises his colleagues for having “the same education as the IMF economists”. This goes very far: remember that it was the Bretton Woods (= Worsap-620x310ld Bank and IMF) economists that shoved African countries the hated Structural Adjustment Programs down the throat, to the detriment of our quality of life. These organizations are highly politically charged. They are financed mostly by the USA and represent the interests of the USA. Which is neo-liberal capitalism. That is good for the rich (the rich in USA and the rich in Africa) and bad for the poor (the poor in USA and the poor in Africa.) They push us to privatize public utilities like electricity and water. They push us to lower state expenditures. Of course there is (accord85656_1236838436ing to minister Goodall Gondwe of finance) 30% wasteful spending, which can and should be cut. But that is not the way Structural Adjustment works out: it always turns into cutting service delivery, often of health services and education. Which are two sectors that are terribly underfunded already. So if we let technocrats with the same education as IMF economists run the government finances, we are going to end up even worse up the creek in areas of public service. Bad idea!

Advertisements

One thought on “Chuka?!

  1. One question I would really like to ask-

    If a family member stole say, K1,000,000 from the family’s money and no one discovered that some money was missing while all regular family financial activities remained unaffected, only to be discovered when someone checked the balance sheets, Would it be wrong to say this family was very rich?

    CASH GATE

    I don’t believe it when they say Malawi is a poor country.
    Malawi is not poor. What is poor in Malawi is LOVE. All we need in Malawi is to restore the lost LOVE.
    If all the billions of kwachas that was stolen was handled while the hearts were full of LOVE. If that money was used to pipe Lake Malawi water to all the cities which I know is Possible (Fuel is piped from Tanzania to Zimbabwe) not to mention medical equipment and medicine, just to mention a few.

    If all the leaders and decision makers were not selfish and worked for the good of all the people,
    If those with an ACE in their hands would still listen to constructive oppositions and contributions,
    If those sent by people’s votes respected the voters during the time of their office,
    If we were wise enough to know that politicians are not our friends but gold diggers whose benefits are our own sweat. and stopped compromising our better self by truthfully rejecting their known lies instead of defending them just because we are in their political party,
    ETC,
    We would have been in a better Malawi where our money taken from us as TAX would have been beneficial to the rightful beneficiaries.
    You can list down more benefits than I can do if TRUE LOVE flourished in every person who is holding that advantaged position.

    May the good God help Malawi.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s