Finance Minister upbeat on IMF facility

Finance minister Sosten Gwengwe says he is upbeat Malawi will get the Extended Credit Facility (ECF) saying talks with the IMF are on track.
Government hopes the ECF will bring back to life the ailing economy.

Finance Minister Sosten Gwengwe
Gwengwe has expressed optimism that Malawi will get the facility, saying discussions are at advanced stage.
Recently, as demanded by the IMF, Government submitted the audited report on foreign exchange misrepresentation committed under the previous regime.
However, the two parties still need to agree on other teething issues like public debt management.
The recent IMF board meeting skipped Malawi on consideration of the economic relief package but approved Kenya’s $235.6 million and Tanzania’s $1.04 billion packages.

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