Malawi government intends to consolidate growth, harness inflation and improve the external sector to be in sync with the next Extended Credit Facility (ECF) with International Monetary Fund, Secretary to Treasury Ben Botolo has said. IMF head of mission to Malawi Oral Williams pointed out that despite the just ended ECF broadly achieving its macroeconomic […]
Finance, Economic Planning and Development Minister Goodall Gondwe hopes the International Monetary Fund’s approval of a $26.9 million loan could lead to more global lenders unlocking budget support that was suspended three years ago over graft allegations. The IMF said on Wednesday Malawi’s economy was on the right track after the fund completed its ninth and final […]
The International Monetary Fund (IMF) approved a US$ 26.9 Million (about K19.7 billion at current exchange rate) for Malawi after concluding ninth review of the Extended Credit Facility programme (ECF) , a tool for medium-term financial support, aimed at low income member states . The approval of the credit brings total disbursements under the ECF […]
Deputy Managing Director for the International Monetary Fund (IMF), Tao Zhang Thursday said the fund is ready to support Malawi’s next Extended Credit Facility programme (ECF). Speaking at Kamuzu Palace in Lilongwe after meeting President Prof Peter Mutharika, Zhang said the IMF was impressed with the efforts the Malawi government was making in implementing the […]
The International Monetary Fund (IMF) Wednesday declared Malawi as being on track as far as reclaiming the economy is concerned. Chief of Mission for IMF, Oral Williams disclosed this in Lilongwe during a press briefing on the end of mission for the ninth and final review of the Extended Credit Facility. He said as far […]
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. Ministry of Finance spokesperson Alfred Kutengule said the IMF team is in the country for periodic assessment on the government financial […]
The International Monetary Fund (IMF) has approved that Malawi government authorities be granted more time to achieve the Extended Credit Facility (ECF) programme objectives for which it borrowed $146.7 million for (about K108 billion). The extension, approved on Monday — without an executive Executive Board meeting — will go until June 2017. In a media statement […]
Officials from Civil Service Trade Union say the service is not as bloated as the IMF wants people to believe, saying it is smaller compared to others in the region. Secretary General of the Civil Service Trade Union (CSTU) secretary general Madalitso Njolomole said the civil service is full of non established positions, political appointees […]
A team of International Monetary Fund (IMF) has predicted of tough economic times ahead because the Democratic Progressive Party (DPP) is off course having bloated its public service and accumulated a huge debt. Head of the IMF review team Oral Williams has expressed concern over the huge debt the government continues incur against the advice […]
An International Monetary Fund (IMF) mission as met Finance, Economic Planning and Development Minister Goodall Gondwe and Reserve Bank governor Charles Chuka where they have expressed concern over the rising inflation and bank interest rates. Treasury spokesperson Nations Msowoya said the IMF technical team, apart from looking into how the government has performed in the […]
An International Monetary Fund jetted into the country on Tuesday afternoon to check on the performnce of the Peter Mutharika administration for the last six months. Finance ministry spokesperson Nations Msowoya said the government is optimistic it will remain on track with the IMF extended credit facility (ecf). “This is.a normal review, we were expecting […]
The International Monetary Fund (IMF) will increase loans to Malawi by $76.8 million, the global lender said on Monday following an economic review of the drought-hit country. The IMF Executive Board has completed Malawi’s Extended Credit Facility (ECF) arrangement, signed in 2012, by another six months with funding equivalent to $49.2 million. “In completing the […]
Malawi President Peter Mutharika has warned effects of the infamous K30 billion plunder of public resources at Capital Hill dubbed cashgate is likely to affect the economy for the next 13 years. “The IMF has told me the effects will be here for the next 13 years,” said Mutharika. He was speaking in Chitipa at […]
Malawi should see economic growth pick up to 5.1 percent from about 3.1 percent, Finance Minister Goodall Gondwe told parliament citing International Monetary Fund (IMF) as an authority for such projections. He said the country has been affected by drought caused by the El Nino weather pattern. “Mr Speaker, Sir, as projected by the IMF, […]
The International Monetary Fund has approved an arrangement for Malawi’s $150 million extended facility programme to June 30, 2016 to “provide additional time for the authorities to implement structural measures under the program.” A statement by the global lender said IMF executive board approved the extension of US$ 146.7 million. “The program is aimed at the […]
It has been some time since I wrote a commentary on Malawi’s economy. I guess the reason was that there was nothing much to write about. The economy has been flat or let me say, it has been negative compared to the growth projection given by Minister of Finance and Economic Development, Dr. Goodall Gondwe […]
Last week the Minister of Finance, Economic Planning and Development had a sigh of relief when the International Monetary Fund (IMF) mission completed its review of the performance of the Malawian economy. With the news that “a request to complete the seventh and eighth reviews under the ECF-supported program could be submitted for consideration by […]
Malawians on social media are describing as the best Easter gift news that International Monetary Fund will resume Malawi’s $150 million extended facility programme which was suspended last year after a ‘cashgate’ scandal involving abuse of state money, a move that has brought donor confidence in the government management of the donor economy. Some have […]