IMF team jets in Malawi, govt upbeat to be on track with extended credit facility

An International Monetary Fund jetted into the country on Tuesday afternoon to check on the performnce of the Peter Mutharika administration for the last six months.

Finance Minister Goodall Gondwe and Treasury spokesman Nations Msowoya: Fingers crossed

Finance Minister Goodall Gondwe and Treasury spokesman Nations Msowoya: Fingers crossed

Finance ministry spokesperson Nations Msowoya said the government is optimistic it will remain on track with the IMF extended credit facility (ecf).

“This is.a normal review, we were expecting it and we hope will do well,” said Msowoya.

Added Msowoya as his face beamed with confidence, “This will be a succesful conclusion and it will bring confidence on our public financial management.”

He said this will in turn bring confidence among the donor community.

Malawi is on track with the IMF’s  ECF but donors are reluctant t oprovide budgetary support because of, among other key factors, plunder of public resources by civil servants and politicians.

Government says it has drastically cut on domestic borrowing and President Mutharika has also drastically cut on his foreign trips as the economy cointinues to dwindle and the cost of life escalates.

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2 thoughts on “IMF team jets in Malawi, govt upbeat to be on track with extended credit facility”

  1. Dengulanga says:

    How can the Malawi government be upbeat to be on track when basic things like these have not been addressed:
    (a) The Accountant General and the entire Ministry of Finance has not reconciled government account number one for the last seven years.?
    (b) Government financial statements have not been audited for the last five years?
    (c) Government does not posses any Public Financial Management Reform Strategy?
    (d) Corruption and abuse of the Public Procurement Act is the order of the day and continues unabated under the watchful eyes of the eight one year Goodal Gondwe.
    (e) Within a space of ten years, government is changing IFMIS system solutions like it is changing under wear from CODA Financials, to EPICOR and understandably now to FREEBALANCE SUITE 6.5E and yet we have seen South Africa operate on SAP for over twenty years. What is wrong with this government IT guys and their users from Accountant General?

    Given that any plausible fiscal and micro economic policies sit on a rotten PFM system ,which is a tool for effecting the policies, the current government of Malawi is no where closer to meeting any IMF benchmarks.

    SOLUTION: Fire the old dinosaur managing the Ministry of Finance. Let Mangani go back to Chanco to continue outdated theories on Economics. Let Matambo head back to RBM to continue doing what he knows. Pack the rest of staff that work in the MOF and Accountant General into a TATA truck and take them to Shire River for them to be eaten by CROCODILES so that we can start afresh. Include all staff that work for the ACB, Auditor General, the impotent Public Procurement body led by one Mawindo and all staff from Internal Audit. The exercise should take place between this coming Monday and Friday and advertise the respective posts for new, incorruptible persons to run the system..

    1. JJB says:

      Muphulikatu inu. nzanu mukumunenayo, ali phee kupanga zache. inu osagona, “amenuyo,ameneyo” Give it a rest.

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