The International Monetary Fund (IMF) is in Malawi for two weeks to discuss the country’s economy with various stakeholders.The team led by the new Mission Chief to Malawi, Oral Williams, will discuss with the authorities about the IMF supported programme and the Extended Credit Facility (ECF).
“The team will also meet government officials, representatives of the business community, Civil Society Organisations and Malawi development partners on recent macroeconomic developments,” a statement by the IMF said.
Malawi’s Minister of Finance and Economic Development, Goodall Gondwe, said the government was optimistic that the discussions would help government tackle some of the economic challenges the country was experiencing.
“This is an opportunity for us to discuss some of our economic challenges, including the ECF, which is currently off the track,” he said.
He said the IMF and World Bank agreed that the ECF implementation should go on despite being off the track.
IMF approved a $156.6million ECF in 2012 and is supposed to phase out in 2015.Follow and Subscribe Nyasa TV :