Lilongwe, Malawi – October 6, 2025
Veteran Malawian politician Peter Mutharika has made a dramatic comeback, vowing to revive the country’s battered economy and confront the corruption and mismanagement he says have plunged Malawi into its worst crisis in decades.
The 85-year-old leader — who previously ruled from 2014 to 2020 — was sworn in on Saturday for a second term as president after clinching victory in last month’s hotly contested election. His campaign struck a chord with voters weary of rising prices, food shortages, and a collapsing currency that has left millions struggling to survive.
“I promise you hard work, tough and painful decisions,” Mutharika declared in his inaugural address in Lilongwe, pledging to “fix this country” and restore hope to a nation on the brink.
Malawi, one of Africa’s poorest economies, faces a formidable list of challenges. Foreign exchange reserves have hit record lows, forcing the government to ration fuel and essential imports. Inflation has remained above 20% for more than three years, eroding household incomes and driving up the cost of maize — the staple food for most Malawians.
According to the World Bank, nearly three-quarters of Malawi’s 21 million citizens live below the poverty line of $3 a day, while youth unemployment continues to soar. The situation has been compounded by successive droughts and policy uncertainty that have scared away investors.
Mutharika, who holds a background in law and economics, said his administration would focus on stabilizing the kwacha, rebuilding investor confidence, and cutting government waste. He hinted at sweeping reforms in agriculture, mining, and energy — sectors he described as the “pillars of Malawi’s economic recovery.”
“We are inheriting an economy in distress,” he said. “But together, we will rebuild. We will make Malawi work again.”
His return marks a stunning reversal of fortune after losing the presidency in 2020 amid allegations of electoral irregularities. The constitutional court later annulled that vote, setting the stage for years of political upheaval.
Now, as he takes office again, Mutharika faces sky-high public expectations and a skeptical opposition demanding transparency and accountability. Analysts warn that while his experience could steady the ship, his advanced age and past governance record may pose fresh challenges.
Still, for millions of Malawians battered by poverty and economic hardship, Mutharika’s victory rekindles cautious optimism. As one Lilongwe resident told The Nation, “We don’t care who rules — we just want the prices to go down and jobs to come back.”
Whether Peter Mutharika can deliver on his bold promises and rescue Malawi’s faltering economy will define not just his legacy — but the country’s future.
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