Two renowned economic think tank officials in Malawi have warned the government against complacency after IMF vote of confidence in the use and management of public resources.
Henry Kachaje, president of the powerful grouping of economists body in Malawi, the Economists Association of Malawi (Ecama) said Malawi needs to sustain the gains.
“Being on track with the IMF facility is not an economic success on its own. This facility is for countries that are struggling economically therefore there is need for the government to continue with serious fiscal discipline, reduce borrowing and ensure prudent use of public resources if we are to sustain the gains made so far,” Kachaje told Zodiak on Wednesday.
Executive director of the Malawi Economic Justice Network Dalitso Kubalasa asked the government not to relax but ensure tight fiscal discipline is followed religiously to turn around the economy.
“The ball is in our court, we just need to have our priorities right,” he said.
The IMF has pledged an initial grant of US30m for a start after Malawi qualified for the extended credit facility and the African Development Bank has increased its aid to Malawi from over K300 billion to K588 billion.Follow and Subscribe Nyasa TV :