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| Government to liberalise forex system |
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by
Arthur Chipenda, Malawi News Agency, 07 November 2005
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08:06:48
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President Bingu wa Mutharika Saturday wound up his visit to Scotland with a special call to Malawians in diaspora to take advantage of the liberalisation of the country’s foreign exchange system that government plans to implement soon.
“All Malawians living abroad will have the liberty to operate foreign denominated accounts in Malawi as one way of encouraging them to channel their wealth to Malawi,” said Mutharika at Blantyre in Scotland when he met Malawians studying and working in Scotland.
The President, who was in Scotland on a four-day visit, said the reason for liberalising the foreign exchange system is to ensure that Malawians living in foreign countries do not lose out on the value of their money whenever they want to invest in the country.
Mutharika also disclosed that his government is planning to create a Malawi’s Who Is Who, a system that would track and categorise Malawians living abroad according to their expertise so that the country should be able to utilise their skills.
“We plan to make use of you so that you are also playing a role in the development of your country even though you are living abroad,” said Mutharika, who visited Blantyre, Dr. David Livingstone birth place, with the Scottish First Minister, Jack McConnell.
He said through the Who is Who system, government will be in a position to use Malawians living abroad to help government in various sectors even for a brief period.
Mutharika therefore informed the gathering that every individual in Malawi would be expected to support the cooperation agreement that he signed on Wednesday with the Scottish First Minister.
The President said Malawi has a lot of resources that the people could utilise and transform the country.
“We are poor because we have failed to harness the resources that God blessed us with such as brains, land and waters,” he said, asking Malawians to take charge of their future.
In addition to signing a partnership agreement with McConnell, Mutharika also addressed an international conference on Malawi at the Scottish Parliament in Edinburgh organised by the Scotland-Malawi Partnership on Thursday and received an honorary doctorate degree from the University of Strathclyde in Glasgow on Friday.
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