Malawi: Real interest rate (%)

Key figures

What the numbers say

In 2024, Malawi's real interest rate (%) rose 6.47 percentage points on 2023 (from 3.5% to 9.96%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.08 percentage points and a typical year strayed about 17.4 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 64.18 percentage points in 2003 and the biggest yearly fall was 53.54 percentage points in 2002. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is downward, about 2 percentage points a year. A straight line explains 70% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Malawi had the 4th highest value of the 17 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Malawi in the 2024 ranking

• Kenya — 1st of 17: 13.02%
• Kyrgyz Republic — 2nd of 17: 12.58%
• Dominican Republic — 3rd of 17: 10.53%
• Eswatini — 5th of 17: 9.45%
• Uzbekistan — 6th of 17: 7.95%
• Rwanda — 7th of 17: 7.28%

What this measures

An interest rate is the amount charged, expressed as a percentage of the principal over a period of time, by the owners of certain kinds of financial assets for putting the financial assets at the disposal of another institutional unit. The real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.

All 44 values

Real interest rate (%) in nearby economies

• Angola — -0.93% (2025)
• Benin — 4.56% (2021)
• Botswana — 4.24% (2024)
• Burkina Faso — 6.13% (2021)
• Burundi — -4.95% (2025)
• Cabo Verde — 5.9% (2025)
• Comoros — 0.05% (2022)
• Congo, Dem. Rep. — 15.12% (2025)
• Côte d'Ivoire — 6.55% (2016)
• Eswatini — 9.45% (2024)
• Gambia, The — 13.08% (2025)
• Guinea-Bissau

More financial sector data for Malawi

• DEC alternative conversion factor (LCU per US$) — US$1,751 (2025)
• Official exchange rate (LCU per US$, period average) — US$1,161 (2023)
• Net domestic credit (current LCU) — 7.84 trillion (2024)
• Net foreign assets (current LCU) — -1.65 trillion (2024)
• Broad money (current LCU) — 5.34 trillion (2024)
• Claims on central government (annual growth as % of broad money) — 49.15% (2024)
• Claims on private sector (annual growth as % of broad money) — 9.6% (2024)
• Broad money (annual % growth) — 45.13% (2024)
• Broad money to total reserves ratio — 3.46 (2020)
• Consumer price index (2010 = 100)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Malawi's real interest rate (%)?

9.96% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1981?

It is up 8.17 percentage points from 1.8% in 1981. The highest value was 34.95% in 2003 and the lowest -29.22% in 2002.

How does Malawi rank?

4th highest of 17 economies with data for 2024.

Is the latest change in real interest rate (%) unusual for Malawi?

In 2024, Malawi's real interest rate (%) rose 6.47 percentage points on 2023 (from 3.5% to 9.96%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.08 percentage points and a typical year strayed about 17.4 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator FR.INR.RINR, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF); World Development Indicators, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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