Malawi votes for a new president amid economic distress

Vote counting is underway in Malawi after presidential elections held during the country’s most severe economic crisis.

While 17 candidates are in the running, the election is largely seen as a showdown between the current president, 70-year-old Lazarus Chakwera, and his 85-year-old predecessor, Peter Mutharika.

The two rivals have faced off at the polls twice: initially in 2014, when Mutharika emerged victorious, and again in 2020, when Chakwera won a rerun with 59 percent of the vote after the initial election was nullified due to irregularities, Al Jazeera reported

In addition to voting for the presidency, Malawians also chose members of parliament and local councillors across 35 local government areas.

If no candidate secures over 50 percent of the vote, a run-off election will take place within 60 days. Preliminary results from Tuesday’s first round are anticipated by Thursday, the publication reported.

ONE OF THE POOREST COUNTRIES IN THE WORLD

According to BBC News, Malawi, long ranked among the world’s poorest nations, is facing an increasingly harsh economic climate.

Food prices have soared by over 30% in the past year, while wages remain stagnant, squeezing household budgets across the country.

Economists point to a severe shortage of foreign currency, commonly known as forex, in the banking system as a key driver behind the soaring inflation.

The country has also been crippled by nationwide power outages and fuel shortages.