President of Malawi, Lazarus Chakwera has restricted himself and all members of his cabinet form international travels in a bid to cut the cost of governance.
This measure comes amidst devaluation of the country’s currency as it secures a loan from the International Monetary Fund (IMF) to bail the ailing economy.
Mr Chakwera has also ordered all ministers currently abroad to return home immediately.
Fuel allowances for senior government officials have also been cut by 50%.
Malawi’s economy has been undergoing difficult times, amidts acute shortage of petrol and diesel, as well as high inflation.
In a televised address, Mr Chakwera said the measures would remain in place until the end of the financial year in March 2024.
As part of moves to ease the cost-of-living crisis, the president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.
He has also ordered a reduction of income tax on individuals in the upcoming budget, to help workers whose wages have lost value.
The IMF has approved a four-year credit facility worth $174m (£140m), just days after Malawi’s central bank announced the devaluation of the local currency, the kwacha by 44%.
Officials have blamed the economic downturn on external factors, such as a devastating cyclone earlier this year and the war in Ukraine.
