Forex bills were underestimated, Mutharika run the forex reserves dry

From Face of Malawi Sat Dec 29 2012, 03:35:30

The Ministry o f Finance has said the country's outstanding foreign currency arrears accumulated due to lack of foreign currency were way beyond the US$1 billion as initially estimated. Deputy Minister of Finance Ralph Jooma told a press briefing in Lilongwe on Friday that despite receiving a total of US$800 million from donors as well [...]

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