Source: Malawian Government has been asked to avoid providing debt to financial institutions that do not provide proper expenditure guidelines for their loans to avoid misuse of the funds and counterfeit development projects. Veteran journalist Ephraim Munthali made the call Thursday in Mzuzu during a two-day training for journalists on financial reporting organized by Reserve Bank of Malawi (RBM). Munthali, who is also the Managing Editor for Nation Publications Limited, was commenting on a presentation made by RBM Governor Dr. Dalitso Kabambe on a general overview of government's debt. Kabambe concurred with Munthali saying it is important for every loan to be looked into objectively and evaluated to determine if it is a priority for government or not. "Usually, this is one of the things that we advise government because sometimes the repayment rate for loans may not be in tandem with the signed agreement. Pre-loan or pre-project evaluation will help the government to get only loans whose value will be of importance to the nation and if the project is not, the government is at liberty to reject the loan," he said. Earlier, Kabambe encouraged journalists to be factual in reporting financial issues as they have a direct impact on the masses.
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