IMF gives Malawi comfort letter, to open aid taps

The International Monetary Fund (IMF) on June 19, 2012 issued a letter of comfort for Malawi which will open taps for other donors to help Malawi.

President Joyce Banda has since hailed the development.

“God loves Malawi,” said jovial President Banda during a news  conference at New State House in Lilongwe.

Banda said the comfort letter will enable donors release aid to the country.

She said IMF recognizes efforts that the country has made in the reforms.

“IMF recognizes that my government has inherited a very difficult economic situation but nevertheless the government under my leadership has made specific measures that demonstrate our commitment to economic governance and particularly, our intention to get back on track with IMF,” said the Malawi leader amid applause from government officials.

President Banda said IMF is also proposing a higher than usual access fund resources of about US$157 Million to address the pressing economic issues.

President Banda congratulates finance minister Ken Lipenga after her statement

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