Currency devaluation in Malawi sparks economic turmoil and price instability.
Devaluing the currency in a country like Malawi can have big effects on the economy. The government has used different policies to manage this, like devaluation and adjusting exchange rates. This is important because if the country imports more than it exports, leaving the currency uncontrolled can cause problems. Devaluing the currency can change prices of goods and affect the overall economy. In developing countries, managing the currency is crucial for stabilizing prices and promoting economic growth.