Malawi's first female president (and second on the African
continent) narrowly won a second term this May after originally assuming
office in 2012. However, she ordered that the results of the May
elections be nullified and the elections be held in 90 days due to
electoral irregularities; spectators say it is a desperate attempt to
stay in power. Her time so far has been marred by financial scandals,
arrests and prosecutions in her own government. But Banda's most brazen
decisions have been for austerity's sake. She sold off a $15 million
presidential jet, cut her own salary by 30 percent and dismissed her
cabinet in the midst of corruption allegations. Her bookkeeping measures
have helped lift monetary suspensions from Western donors to Malawi and
restore cash injections from the IMF.
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