Mutharika entered the press conference in the administrative capital Lilongwe waving both hands to an audience of media, cabinet ministers, supporters and diplomats.
Last Sunday, when he disembarked from his plane from the US, his right arm appeared stiff and he instead used his left arm to wave and to shake hands with officials, raising more speculation among Malawians who are scrutinising every detail for clues about his health.
He told the press conference he was unable to use his right hand then because of "slight rheumatism".
"It's getting better now. I am really fine and there is nothing to worry. I hope that puts to rest the rumours about my health," he added to wild applause and dancing from supporters.
Mutharika said if he was sick, he would have been "crazy" to leave the US and fly home.
'Absence without leave'
When Mutharika extended his stay in the US for two weeks after the UN gathering, his office condemned rumours that he was critically ill as "baseless, malicious and sickening".
It threatened legal action against anyone responsible for "damaging rumour-mongering".
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