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The new president inherits a nation in distress. Malawi, one of the world’s least developed countries, is plagued by rising inflation and critical shortages of fuel and foreign exchange.
Peter Mutharika was inaugurated as Malawi’s president on Saturday, marking a stunning political comeback for the 85-year-old. He was earlier president from 2014 to 2020. His return to power is at a time the country is grappling with a severe economic emergency.
Mutharika secured 56% of the vote in the September 16 election, defeating incumbent Lazarus Chakwera, who garnered 33%. Mutharika, lost the presidency after the 2019 election was nullified by courts due to irregularities.
The new president inherits a nation in distress. Malawi, one of the world’s least developed countries, is plagued by rising inflation and critical shortages of fuel and foreign exchange.
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Mutharika pledged to “fix this country” through hard work, promising to combat corruption and seek international investment rather than aid, a new credo gaining traction among countries in the continent.