International Monetary Fund (IMF) has warned that Malawi risks a “deeper disruption to economic activity” due to the effects of coronavirus (Covid-19). In a statement at the end of an IMF staff visit, Mission Chief for Malawi Pritha Mitra while commending authorities for regaining control over budget in the first half of the 2019/20 financial year, […]
Malawi’s economy recent economic performance has been favourable and the International Monetary Fund (IMF) says it is likely to expand by 6-7% this year, notwithstanding the effects of coronavirus on its economy. IMF mission chief for Malawi Pritha Mitra said late on Tuesday that inflation is expected to fall to 9.3% in 2020 from 11.5% in […]
The International Monetary Fund (IMF) has trimmed its team which is in the country for a review of its programs due to the ravaging coronavirus outbreak which has been labelled a pandemic by the World Health Organization (WHO). However, it is not yet known whether the trimming was as a result of some members contracting the disease […]
Minister of Finance, Economic Planning and Development Joseph Mwanamvekha has said Treasury is excited that African Development Bank (AfDB) has confirmed the possibility of providing budgetary support to Malawi in this financial year. Mwanamvekha said the indication by International Monetary Fund (IMF) that the country’s economy is on track has injected a positive signal from […]
Malawi will finally get resources amounting to US$40 million (about K29 billion) from the International Monetary Fund (IMF) in direct budget support, Minister of Finance, Economic Planning and Development, Joseph Mwanamvekha has announced. This will be the first time in six years after the IMF suspended support in 2013 following looting of public funds at […]
The International Monetary Fund (IMF) has given Malawi a flicker of hope for continued Extended Credit Facility (ECF) programme, saying the recent economic performance has been favourable and the country should expect two disbursements from the funds linked to the second and third reviews. Addressing a news conference at the end of its week-long mission […]
Minister of Finance, Economic Planning and Development Joseph Mwanamvekha has said Malawi was on track to remain within the terms of the International Monetary Fund (IMF) Extended Credit Facility (ECF) program. An IMF mission team arriving on September 10 for the second and third review will unlock the remainder of about $56 million of the […]
The International Monetary Fund (IMF) has given a positive economic outlook for Malawi after conducting discussions with the Malawi Government on the second review of the three year arrangement under the Extended Credit Facility (ECF) amounting to US$112.3 million. IMF Mission Chief for Malawi, Pritha Mitra told journalists at Capital Hill in Lilongwe that Malawi’s […]
The International Monetary Fund (IMF) has warned that Malawi is at growing risk of debt distress because of heavy borrowing, advising government to keep borrowing to a minimum and only procure loans that are concessional. IMF mission chief Pritha Mitra said this at the completions of the second review under the Extended Credit Facility. The fund […]
The International Monetary Fund (IMF) says Malawi’s 2019 macroeconomic outlook is positive, the organisation’s November 2018 Country Report No. 18/336 has revealed. The report gives Malawi’s first review under the three year extended credit facility arrangement and requests for modification and waivers of nonobservance of performance criteria. Among others, the report highlights positive outlook on […]
International Monetary Fund (IMF)has given another positive rating to Malawi’s performance under its Extended Credit Facility programme, approving a US$15.4 million disbursement. In a statement dated November 21, Deputy Managing Directot and acting chair of the IMF Board Tao Zhang commended Malawi’s economic performance. He said Malawi has actually overperformed in some areas. “Malawi’s program performance […]
President Peter Mutharika has said that he is pleased that after he inherited a “tattered and bankrupt economy” from his predecessor, Joyce Banda, he has managed to reverse many of the economic woes and is setting Malawi on a path of sustainable growth with new predictions by the International Monetary Fund (IMF) signalling further positive […]
The International Monetary Fund (IMF) has completed its assessment of Malawi’s performance on its Extended Credit Facility (ECF), giving a positive rating that the southern African nation’s economy is growing and progressing to the right direction. Speaking to the media in Lilongwe, the IMF Mission Chief for Malawi, Pritha Mitra said they reached a staff-level […]
Minister of Finance, Economic Planning and Development Goodall Gondwe has expressed the hope that the meeting with International Monetary Fund (IMF) will be fruitful and that would lead to World Bank and Europeam Union (EU) to disburse the budgetary support projected at K50 billion , saying failure to release the money will trigger cuts in […]
Former president Joyce Banda and her People’s Party (PP) government were voted out of power in 2014 at the height of Cashgate corruption scandlewhich involved the systematic pilferage of government money by crooked politicians, civil servants and their private sector accomplices. It involved the plunder of public resources at Capital Hill through inflated invoices, dubious […]
The International Monetary Fund (IMF) Board has completed its assessment of Malawi’s performance on its Extended Credit Facility (ECF), allowing the global lender to make the loan of about K102.7 billion ($140 million) to be disbursed over a three-year period. The approval follows the IMF boss meeting in Washington DC on Monday April 30 2018 and enables […]
Malawi government is “determined” to steer the country out of a group of poorest countries in the world within the medium term, Minister of Finance, Economic Planning and Development Goodall Gondwe has said . Gondwe said in Parliament on Friday when he presented a mid-term budget statement. He attached weight to The International Monetary Fund (IMF) […]
International Monetary Fund (IMF) has urged Malawi government to find solutions to tax administration so that the government is able to collect more in the face of poor domestic revenue and ensure there is strict financial prudence while focusing on priority areas in social and infrastructure development. IMF Mission Chief for Malawi, Pritha Mitra, said […]