Malawi

Established in 1891, the British protectorate of Nyasaland became the independent nation of Malawi in 1964. After three decades of one-party rule under President Hastings Kamuzu BANDA the country held multiparty elections in 1994, under a provisional constitution that came into full effect the following year. Current President Bingu wa MUTHARIKA, elected in May 2004 after a failed attempt by the previous president to amend the constitution to permit another term, struggled to assert his authority against his predecessor and subsequently started his own party, the Democratic Progressive Party (DPP) in 2005. As president, MUTHARIKA has overseen economic improvement but because of political deadlock in the legislature, his minority party has been unable to pass significant legislation, and anti-corruption measures have stalled. Population growth, increasing pressure on agricultural lands, corruption, and the spread of HIV/AIDS pose major problems for Malawi. MUTHARIKA was reelected to a second term in May 2009.

Economical characteristics

 * Currency: Kwacha (ISO code: MWK)
 * Central bank discount rate: 15% (31 December 2009)
 * Commercial banks lending rate: 25.25% (31 December 2009 )
 * Stock of money (M1): $502.1 million (31 December 2008)
 * Quasi money (with M1 makes M2): $491.1 million (31 December 2008)

Links

 * Malawi on Wikipedia
 * Central bank of Malawi
 * Country profile (pdf) from the Enterprise Studies page (part of the The World Bank Group)
 * BBC country profile