Frank Jomo

Malawi’s president-elect said he will prioritize reviving the struggling economy after returning to power and that he will urgently seek a new financing program with the International Monetary Fund.

Peter Mutharika was declared the winner of Malawi’s presidential elections, reinstating him as leader five years after he left office amid widespread public anger over high levels of corruption and the government’s management of the economy.

Malawian President Lazarus Chakwera faces an uphill battle to secure another term in Tuesday’s elections, with his popularity dented by spiraling living costs, fuel shortages and shrinking foreign-exchange reserves.

Malawian President Lazarus Chakwera apologized for chronic nationwide fuel shortages and accused employees of the state oil company of trying to sabotage his re-election bid ahead of next week’s vote.

Malawi has had a tough time keeping track of its International Monetary Fund programs that bring in much-needed financing, failing twice in the last five years to conclude them. The government plans a fresh effort after the September elections.

Malawian President Lazarus Chakwera fired his trade minister, a day after protests erupted in the capital over a cost-of-living crisis in the poverty-stricken southern African nation.

Hundreds of informal traders blockaded the entrance to Malawi’s parliament on Tuesday in a protest over the rising cost of living.

Malawi is building its first battery-energy system, a technology that will help protect its grid from cyclones that have battered the southern African nation in recent years.

Malawi’s third-largest party chose former central bank Governor Dalitso Kabambe as its new leader, meaning he’ll be its presidential candidate in next year’s elections.

The United Nations said it seeks $136.5 million to assist 4.7 million Malawians affected by the El Nino-induced drought in the southern African nation.