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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Judah
Guest
8 months 19 days ago

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

leonard
Guest
leonard
8 months 20 days ago
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… Read more »
kukhala
Guest
kukhala
8 months 20 days ago

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.

Kenkkk
Guest
Kenkkk
8 months 20 days ago

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

mtumbuka1
Guest
8 months 21 days ago
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… Read more »
John
Guest
John
8 months 21 days ago

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????????????????????

chimwemwe
Guest
chimwemwe
8 months 21 days ago

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

Punjab
Guest
Punjab
8 months 21 days ago

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.

Green Grass
Guest
Green Grass
8 months 21 days ago

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?

zimkambani
Guest
zimkambani
8 months 21 days ago
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… Read more »
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