Western donors were unlikely to resume aid to Malawi as Finance Minister Goodall Gondwe has said the donors are pulling out in many countriee, news reports said on Monday.
“I would like to emphasise this very strongly. We should not proceed on the premise that the donors will come back with their budgetary support purses.
“We could have budgetary support from World Bank, the EU, the African Development Bank but I would have difficulty in proceeding on the basis of expecting bilateral donors to come back because they are out of countries such as Tanzania, Zambia, Rwanda and Mozambique. I think they are getting out of many countries,” said Finance Minister Goodall Gondwe.
Gondwe was quoted in the local press speaking at Financial Market Dealers Association annual conference.
Malawi lost up to 40 percent of the budget support it was receiving from foreign donors after the European Union, the World Bank and the United Kingdom decided to suspend aid pending the results of the government investigation into the alleged corruption scandal, popularly known as “Cashgate.”
The donors have said they won’t resume aid until the “cashgate” puzzle has been resolved and until it has established better financial and management systems.Follow and Subscribe Nyasa TV :