The Ministry of Finance, Economic Planning and Decentralization has dismissed claims of delayed Constituency Development Fund (CDF) disbursements, announcing that MK7.8 billion has been released to local councils for project preparations. According to local reporting from Malawi24 and Nyasa Times, Principal Secretary Peterson Ponderani clarified that under the reformed CDF framework, advance payments to contractors are only issued after councils finalize technical appraisals and procurement processes.
In financial enforcement news, the Reserve Bank of Malawi is holding $1.14 million in seized foreign currency after police intercepted two Tanzanian nationals at the Chiweta roadblock in Rumphi District. AllAfrica reports that the suspects appeared in court on July 7 to face charges of illegal foreign currency exchange and money laundering under the Foreign Exchange Act and Financial Crimes Act. The seizure occurs as Malawi continues to face severe foreign exchange shortages and illicit financial flows.
Meanwhile, Parliament opened a four-week sitting on July 7 to address the country's economic pressures and public accountability. According to Pan African Visions, the legislative session is also focusing on the economic impact of returning migrants following the recent repatriation of thousands of Malawians from South Africa.