The finance ministry today announced that the H.E. President Bingu wa Mutharika's new jet is being paid for with a loan from an un-named foreign bank. With a 25 million USD price tag, it runs equivalent to more than 2/3 of Malawi's direct budget support from the UK. Finance Minister Ken Kanondo explained that the new jet will actually save money in the long run by reducing the cost of chartering planes for presidential trips.
This is would be fine and well if Mr. Kanondo had not prefaced that statement by saying they had just sold the old presidential jet. This begs the question of why Bingu would have been chartering planes in the first place if there was already a presidential jet.
http://themicroloanfoundation.wordpress.com/2010/04/26/malawian-government-uses-debt-to-buy-presidential-jet/
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