The Malawi Congress Party (MCP)Member of Parliament has has advised government to abondon plans of introducing the K2000 note and also to remove the K1000 note from circulation inorder to revive the dying economy.
MCP spokesperson on financial matters, Kusamba Dzonzi said that the introduction of additional denominations will only murder the already dead economy.
“Prices of goods and services normally go up when denomination with extra zeros are introduced into the economy.
“Yes it is true that inflation is accelerating at a Ferrari speed, however the thing is that the introduction of the K2000 bank note will just worsen conditions Malawians are living in,” he said.
He added that the only workable solution to curb inflation is through the termination of the K2000 and K1000 bank notes.
“If government will take these suggestions into account i can assure you that commodity prices will stabalise and the economy will start to pick once gain,” he added.
The Reseve Bank of Malawi said that it will introduce the K2000 note into circulation on the 19th of December this year.