European Union Ambassador to Malawi Rune Skinnebach says devaluation of a currency does not work in countries whose exports are low such as Malawi.
Skinnebach said this in Blantyre during a media interaction with journalists in the southern region.
He said devaluation aims at encouraging exports but Malawi has few commodities to export.
In May this year, the Reserve Bank of Malawi devalued the Malawi kwacha by 25 percent in a bid to give it its true value and align it with the trends then.
Turning to the journalists, Skinnebach said journalists as the fourth estate play a crucial role in the development of the country.
He said the EU mission in the country will work in collaboration with the media to advance all aspects that sync well with the aspirations of the country.
“The EU has been a partner of the media for quite some time now and will continue on that path.
“We have seen tremendous improvements taken by the media in fiscal management, fighting corruption and promotion of good governance.
“We have seen the media reporting on the same.
“We would love to see the media follow all cases that hit dead ends because this helps to hold authorities accountable which is good for the country,” said Skinnebach.
On his part, the President of Blantyre Press Club (BPC), Blessings Kanache, said BPC applauds the EU for the support it renders to the media in the country.
“We commend the EU for having this interaction with Blantyre Press Club. EU has been our trusted time over time and we look forward to collaborating on several programmes that advance the general good in our society,” said Kanache.
Currently, the EU is implementing projects in various sectors of the country including, education, agriculture, governance and environment.