Reserve Bank of Malawi with the plan to help country’s economy grow

 The Reserve Bank of Malawi (RBM) has a plan to help the country's economy grow. Right now, the government is borrowing too much money, which makes it hard for private businesses to get loans. The RBM wants to change this by teaching people about credit


reporting and asset-based lending.


This means that people can use their movable assets, like cars or livestock, to get loans from banks. The RBM hopes that this will help businesses grow and produce more goods, which can be sold abroad. This will bring in more money and help the country's economy.


The RBM is working with the International Finance Corporation (IFC) to make this happen. They are running a campaign to teach people about financial literacy, which means understanding how to manage money and make smart financial decisions.


The RBM's governor, MacDonald Mafuta-Mwale, is optimistic that this plan will work. He saysReserve Bank of Malawi that credit reporting will help people get loans from banks, and that using movable assets as collateral will make it easier for businesses to get the money they need.


Overall, the RBM's plan is to help Malawi's economy grow by making it easier for businesses to get loans and by teaching people about financial literacy.

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