The Potential Role of Local Currencies Payment Systems in Trade between Malawi and Regional Partners
A summary of the paper by Dr Greenwell Matchaya, presented at public seminar organised by Ecama at Cresta Hotel in Lilonge on firt July. Guest of Honour : Minister of Finance, Hon. Ken Kandodo, MP Presenter : Ass. Professor Charles Mataya (PhD) Discussants : 1. MEJN Executive Director, Mr. Andrew Kumbatira, 2. Chair, Trade and Industry Committee of parliament, Dr. Cornelius Mwalwanda, MP _____________________________________________________________________________________ Author: Greenwell Collins Matchaya, PhD , Leeds University-Business School, June, 2010 Summary The recent foreign exchange shortages in the country point to the economic threats that exist for economies that solely rely on foreign exchange in their daily trade. A study of the literature shows that foreign exchange problems could partially be reduced by carefully establishing local currency payments systems with significant regional trade partners. At the local scale, such arrangements are not rampant at present, howev