IMF to give Malawi govt assessment report Friday

Finance, Economic Planning and Development Minister Goodall Gondwe should be having his fingers crossed as he awaits Friday on a crucial assessment report on whether Malawi has qualified for the IMF extended credit facilty or not.

Minister of Finance Goodall Gondwe: Expect IMF report by Friday

Ministry of Finance spokesperson Alfred Kutengule said the IMF team is in the country for periodic assessment on the government financial prudence.

“They will give their report to the government this Friday,” said Kutengule.

Last time the government missed on some targets set by the Breston Woods institutions which included failure by the government to reduce the civil service, high local borrowing and failure to maintain monthly reconciliatory reports between the Reserve Bank of Malawi and accountant general’s office.

Economist Ben Kalua was upbeat the government would make it this time.

“The country’s economy has improved. Inflation is now going down and prices of goods are also going down,” he said.

Inflation has drastically gone dpwn from 23 percent to 16 percent.

It is expected that the qualification of Malawi into the IMF extended credit facility would bring in the much needed direct budet aid.

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