Muluzi Sounds Alarm on Malawi’s Rising Debt, Calls for Unity and High-Level Talks

Former President Bakili Muluzi is urging Malawians to take immediate action to address the country’s ballooning debt, projected to hit K20 trillion if left unchecked.

Muluzi, who served as Malawi’s president from 1994 to 2004, emphasized the need for a high-level consultative meeting to find lasting solutions to the K15 trillion debt crisis.

Speaking at the United Democratic Front (UDF) convention on Wednesday, Muluzi expressed fears of Malawi being declared bankrupt, stressing that the country has reached a critical point.

“We must act now to avoid being declared a bankrupt state, which would have dire consequences for our economic future,” he warned.

Muluzi also called for tolerance and peaceful coexistence among political parties, citing his own experience of visiting former President Kamuzu Banda after his election in 1994.

He defended the UDF’s earlier decision to invite other parties, including the ruling Malawi Congress Party (MCP), to join forces, despite criticism from some party loyalists.

In a surprising twist, Atupele Muluzi, the newly elected UDF president and Bakili’s son, announced that the party will contest the next general election solo, dispelling earlier rumours of an opposition alliance to oust the MCP.

Muluzi’s concerns about Malawi’s debt echo those of other African countries, which have been seeking collaborative solutions to indebtedness through joint high-level consultations with institutions like the African Development Bank (ADB) and the World Bank