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Malawi's watchdog accuses government officials of black market forex trading, weakening the local currency.
The Center for Democracy and Economic Development Initiatives (CDEDI) has accused Malawi's cabinet ministers, government officials, and banks of black market foreign exchange trading, which they claim is weakening the local currency.
CDEDI's director, Sylvester Namiwa, provided an example of a minister selling $450,000 at an inflated rate but withheld names and further evidence.
The group is calling for action from the Anti-Corruption Bureau and the Financial Intelligence Authority amid the country's forex crisis.
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El perro guardián de Malawi acusa a los funcionarios del gobierno de comerciar con divisas del mercado negro, debilitando la moneda local.