Goodall says Malawi economy to stabalise: ATI in Feb to meet IMF conditions

Finance minister Goodall Gondwe says Access to Information bill (ATI) will be tabled in parliament February because it is part of conditionalities that the International Monetary Fund (IMF) has set for Malawi to qualify for the Breston Wood’s extended credit facility.

Gondwe: Malawi economy will heal by May

Gondwe: Malawi economy will heal by May

President Peter Mutharika,Finance Minister, meeting officials from IMF - Pic by Stanley Makuti.

President Peter Mutharika,Finance Minister, meeting officials from IMF – Pic by Stanley Makuti.

The announcement gives Malawians a sigh of relief although it is unlikely that the draft bill would be given back to stakeholders to scrutinise it before it goes to parliament amid fears the government would doctor it.

Gondwe still remains upbeat that Malawi would qualify for the extended credit facility (ECF) which is expected to woo back traditional donors who packed their bags two years ago in protest against cashgate, the infamous plunder of government money at Capital Hill.

However, economists remain sceptical that Malawi would qualify for the ECF, saying domestic debt remains high, inflation is still unmanageable among other key factors.

Renowned economist cum journalist Ephraim Munthali told Zodiak recently it was unlikely all donors would be coming back even after Malawi qualifies for the ECF.

But Gondwe is upbeat, saying most of the conditions set have almost been fulfilled.

“We are about to complete some of the conditions,” said Gondwe.

He also said government stopped domestic borrowing “for the past three months.”

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24 thoughts on “Goodall says Malawi economy to stabalise: ATI in Feb to meet IMF conditions”

  1. Judah says:

    akuteta we r tired of this u said October then January now what is this poor malawi

  2. leonard says:

    Malawi Public, Goodal, Take note why kwacha has lost so much value. Last year the Reserve Bank of Malawi decided to allow exporter to keep 100% of the export dollars. While in the past it has been that exporters can keep only 60% and 40% they have to convert in kwacha, so after this policy by reserve bank the kwacha lost so much value as the exporters Like Limbe leaf,JTi, Africa Leaf, Alliance one who have bought the tobacco from local indigineous in kwacha now export the dollars and keep the dollars until the kwacha is massively devalued. This policy has hurt malawians and is also not one of the conditions for IMF so why did Reserve Bank of Malawi introduce this policy, as i dont see the 16million Malawians benefitting from this it is only the white exporters beniftting. Please Governmeent we request you to reverse this policy back to the past as this will slow down or even stop the depreciation of the Malawi kwacha.

  3. kukhala says:

    DPP & FELLOW MALAWIANS, WHY DO WE STILL WASTE TIME SEEKING FOREIGN FUNDING. IT IS HIGH TIME WE DEVELOPED MALAWI QUALITY PRODUCTS AND SERVICES WHICH ARE DEMANDED LOCALLY AND ABROAD.

  4. Kenkkk says:

    Nyasatimes, Malawi voice and dpp are sabotaging you. We can’t read the comments, most of them are jumbled up like Chinese.

  5. mtumbuka1 says:

    Mbonga mtonga don’t say “we” voted for dpp, who is we? You voted for dpp as if it was a new political party and the mutharika of yours was a new person you wanted to try. It’s because of morons like you the reason the country has been ruined, but as if that is not enough, come 2019 you will still be queuing up to vote for the same dpp and peter as if you were bewitched to be stupid. I don’t feel sorry for people who chooses to be kicked like soccer balls. Now this dpp/ mutharika cancer is everywhere from the army generals to the police generals… I hope you now have grown balls big enough to get rid of mutharika and his thieving dpp government. Naturally all the mutharikas I have heard of have lived abroad and left their wealth abroad and it is just as good as hunting a witch to think that any mutharika with or without teeth will have the welfare of Malawians at heart. Good luck folks as you keep chasing mutharika’s shadow.

  6. John says:

    DID YOU HAVE TO WAIT UNTIL YOU ARE THOROUGHLY SQUEEZED BEFORE COMING TO YOUR SENSES AND ACCEPT THAT ACCESS TO INFORMATION BILL SHOULD NOW BE TABLED????????????????????

  7. chimwemwe says:

    Goodall do remember why people did not vote for JB is becuase of Kwacha devaluation, durings Bingus time Kwacha was stable, so we voted for DPP koma this kwacha devaluation is worst ever in during Muluzis timethere were no devaluations of this magnitude. We cannot wait for your bogus stories you have already damaged Malawis economy beyond repair. Factories are closing down as they cannot keep pace with the devaluation. You are cluelesss Go home muka lima mu chose suit ndi mutanga nkhasu

  8. Punjab says:

    In April 2015, this old man told us that we are going to clap hand for this government come December 2015 coz by then the economy will have picked up. Alas! come January 2016, akuti in May. Zimenezo mukaudze ana a kwanu. Zavuta Zavuta Basi.

  9. Green Grass says:

    Kkkkkkk Azungu ariuza kuti bla bla bla. Aren’t you the same people who told Malawians not vote for JB because she is a puppet of donors and what is this now?

  10. zimkambani says:

    Whose agenda are we going by as a Sovereign State? Do we table the Bill because of pressure or because the Citizens will bebefit from such legislation? Are we making laws to please Donors or improve the welfare and order of our citizens? How long will Malawi dance to the tune if Donors? Simple logic the bill is not the Governments priority it is only an attempt to lure Donors the Government is trying to do something to fulfill the conditions. Remember some laws are suspended without the Law Makers approving. Here we are February to be tabled. I do not know how much consultation has been done with the citizens by the Law Makers in their Constituents. Cry the beloved country Malawi.

  11. mtumbukaweniweni says:

    KODI AKUTILAMULA MUNO MUMALAWI NDANI PETTER KAPENA AZUNGU??????????????

  12. Don’t cry you idiots!!!!! This is what you voted for in may 2014!!!!!!!!!!! Pa thako panu

  13. La 40 Lakwana says:

    Will the 577 billion audit report be out by then ? If the 577 billion audit report will not come out by then , just forget donors coming to rescue Malawi , we are already in the net of poverty Goodall.

  14. mbuya says:

    old man shut up your old mouth God will this time punish you I pray

  15. nafakale says:

    Kod président ndi IMF?? Or APM?? Zikudabwitsa

  16. Ndine yemweuja says:

    Mxiiii!!! zopusa basi!

  17. Benjones says:

    Either you have gone mad or you are on drugs. We are not stupid or blind stop fooling us. Donors will not come until the mutharika family is in power and all cash gate money is not returned.

  18. Nedi K. says:

    We call it buying time. hat else would Gondwe say.. If he does not remain “upbeat,” where are his finance cum political instincts? Politicians are there sometimes to “sex” people up! No big news or is it?

  19. Mbonga Matoga says:

    Let DPP stop this nonsense about donors, we voted for DPP becoz they promised Malawians that they will develop the country without help from donor funds.

    DPP should be reminded of their manifesto which they used to be elected in govt. DPP was against Joyce Banda for devaluating the Malawi Kwacha in order to satisfy the donor community demands.

    APM and his DPP should just accept that they have failed to run the country, there are no medicines and food in hospitals, teachers and chiefs are not being paid, school fees has been hiked without parliament approval, there is no enough maize stocks in the country, unemployment rate is over 50%, inflation is over 25% Albinos are being hunted like dogs in their own motherland, education standards were thrown to the dogs ages ago, when night falls every Malawian is worried becoz of lack of security, just to mention a few problems that Malawians are up against……For how log will Malawians perceiver with all this nightmare ?

  20. Morris says:

    By that time where will the kwacha be 800. Kwach as has depreciated too much and it will trade around 800 or 1000 by May and then you will appreciate the kwacha is May. Sorry Goodall that is not stabilising economy that is like starving some for food for 4 months and then you give him a cob of maize and expect us to clap hands for you. Also can you explain how do you expect people to survive till may as all items are going up due to kwacha devaluation

  21. Tonny says:

    Gondwe Gondwe Gondwe…. How many times have you lied to Malawians about the economy. Raising our hopes up just so you can’t crush us again, without shame!
    We don’t even know at the moment how far the so called Access To Information bill has been edited…. And if it still qualifies as Access to Information bill or if it has been so watered down that it’s just some rubber stamp lame duck bill.

  22. Njolinjo says:

    Now it’s IMF controlling our so called parliament. You mean we can’t think on our own? Mpaka IMF kutipatsa ma conditions pa zinthu zomwe tinayenera kupanga without a push from them. Our leaders have rotten brains.

  23. Tifuna Salary kunja kwavuta, zithu sizili boo. Chili chonse chakwera ndi 75%. Monga fertilizer anali pa K14,995.00 panopa ali pa K26,800.

  24. ben says:

    Goodall do you take Malawians for fools, by May the kwacha will be trading over 700 and then you stabilise the econony when you have done major damage. I cant afford school fees for my 3 children which have gone up, cant afford escom hiked tariffs, cant afford water bills which have gone up,Chimanga has gone up, Kushoprite things going up daily. This is by far the worse devaluation post independence. My Salary is the same you are making me pooorer everyday through your devaluation. Can you explain why is the kwacha devaluation so much 450 to 700 what type of policies have you introduced that has caused such a devaluation as we have seen droughts but never a devalation like this. Please RESIGN for the love of Malawi as you have failed miserably

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