New United States of America Ambassador David Young says Malawians should brace for tough remedies if the country is to get out of the economic problems worsened by external factors.

The envoy said this to journalists on Thursday after presenting his letters of credence to President Lazarus Chakwera at Kamuzu Palace in Lilongwe.

Young presents his letters of credence to Chakwera

Young said: “The current economic situation is not the President’s or the Malawians’ fault, but rather an outcome of the world events such as the [impact of the] Covid-19 and the Russia-Ukraine war which have affected many countries the world over.

“Malawi, however, needs to brace for tough medicine if it is to recover from the current economic situation.”

He said Chakwera’s commitment to root out corruption and complete public sector reforms was another important path towards ensuring Malawi’s economic development.

Young said: “Private sector-led growth will be key to long-term prosperity. The US government will continue to work closely with the Government of Malawi to help attract investment and grow the private sector needed to stimulate this growth.”

Minister of Foreign Affairs Nancy Tembo said Malawi was dependent on all stakeholders, including all citizens to recover from the current economic challenges.

She said government was doing everything possible to find solutions to the current situation.

Tembo said Covid-19 and the Russia-Ukraine war have had drastic consequences on all sectors such as health, agriculture and the economy in general.

She said: “We all understand where we are. There has been an issue of Covid-19, the cyclones and then the Russia-Ukraine war. We are greatly affected, but for us to get out of this we depend on the concerted efforts from all of us including our development partners and the local Malawians.”

Tembo said it was encouraging that the new US Ambassador seemed excited and committed to work with the Malawi Government to resolve the current challenges.

Young, who has taken over from Robert Scott who served between 2019 and 2021, becomes the 21st US Ambassador since the two countries opened bilateral relations.

Malawians are currently reeling under tough economic conditions characterised by rising commodity prices. Inflation and interest rates are also on an upward trajectory while foreign exchange is in short supply.

The post Brace for bitter remedies—US envoy appeared first on The Nation Online.