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Vol 51 No 20

Published 8th October 2010


Tobacco and the forex puzzle

Better prices alone for the tobacco crop will not address the worsening economic crisis

To judge by his speech, delivered in stentorian tones to the United Nations General Assembly on 23 September, President Bingu wa Mutharika is presiding over a new economic miracle. Moreover, according to his supporters, as Chairman of the African Union, he plays a leading diplomatic role in upholding the continent's sovereignty by protecting Sudan's President Omer Hassan Ahmed el Beshir from arrest by the International Criminal Court and Zimbabwe's President Robert Mugabe from colonial interference (AC Vol 51 No 16). Even civic activists outside Malawi celebrate Mutharika's defiance of the World Bank policy against subsidising fertiliser as a blow for an independent economic policy.

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