Malawi's central bank governor resigns

Malawi Central Bank Governor Victor Mbewe resigned late on Tuesday, bank spokesman Samuel Malitoni said, ending weeks of speculation that the Bank head was on his way out.

'It is just mutual between employee and his employers,' Malitoni told Reuters in an email late on Tuesday. The email did not mention any possible names to replace Mbewe.

Mbewe, a former head of Standard Bank in Malawi, joined the central bank as governor in 2005. He had a good reputation in the market and his banker background helped him earn respect.

The resignation follows weeks of speculation that the government had asked Mbewe to resign amid shortages of foreign currency.

Mbewe is credited for helping to bring the southern African nation's inflation back to single digits.

He worked closely with the International Monetary Fund which led to the cancellation of Malawi's debt. He has also been key in negotiating further aid for Malawi with the
IMF and the World Bank.