A social and political commentator Unandi Banda is backing government’s move to keep away from Malawians the findings of draft report by the British forensic auditors on the cash gate scandal, saying the International Monitory Fund (IMF) officials are the only appropriate people to have a look at the draft report this time around as […]
President Joyce Banda has welcomed the statement of the International Monetary Fund (IMF) after a conclusion of a two-week mission in Malawi to conduct discussions for the third and fourth reviews under the Malawi’s Extended Credit Facility (ECF). IMF expressed their satisfaction with the work being undertaken in Malawi to improve the economic and social […]
President Joyce Banda has criticised some Malawian media outlets for “deliberate twist of information” to influence public opinion against her administration regarding the International Monetary Fund (IMF) report on the country’s current economic situation. Local media widely quoted IMF saying Malawi is in ‘a crisis situation’ following the withholding of aid by the major donors. IMF Mission […]
A team from the International Monetary Fund (IMF), led by Mr. Tsidi Tsikata, visited Lilongwe from November 5 to 20, 2013, to conduct discussions for the third and fourth reviews under Malawi’s Extended Credit Facility (ECF) arrangement.1 The mission met Her Excellency President Joyce Banda, Minister of Finance Maxwell Mkwezalamba, Governor Charles Chuka (Reserve Bank of […]
The International Monetary Fund (IMF) has said Malawi is in a crisis following donors withholding aid to the impoverished southern African nation in reaction to a growing scandal over government graft known as Cashgate. IMF Mission Chief Tsidi Tsikata said this at a news conference organized to brief the media on the outcome of its […]
Britain has sent a clear message to Malawi that the developing southern African nation needs to stop relying on aid, saying the country should be migrating from the current aid dependency to trade. Almost half of this year’s national budget for Malawi will be financed by donor countries, including Britain. Speaking on the sidelines of […]
Records from the Reserve Bank of Malawi indicate that the country’s import cover has this week increased from 65 days to 72 days. This comes barely days after tobacco registered total earnings of $233.8 million from 113 million kgs sold so far. Malawi needs a monthly import cover of $188.1 million and the central bank […]
The International Monetary Fund (IMF has said that Malawian macro-economic policy reforms have started yielding positive results but asked government to keep its spending within available resources. IMF Mission Chief for Malawi Tsidi Tsikata issued the advice at a news conference in Lilongwe on Tuesday at the end of the two-week review of the Malawi’s […]
The International Monetary Fund (IMF) has reiterated to Malawi that policy continuity is critical for curbing inflation and for a sustained recovery despite increasing calls from the civil services and NGOs for government to manage economic hardships on the citizenry by raising wages and minimizing tax burdens on the citizenry. In its May 2013 Malawi […]
The Executive Board of International Monetary Fund (IMF) is expected to jet in the country next month to conduct its third review on economic performance under a program supported by the Extended Credit Facility (ECF) arrangement, Minister of Finance Ken Lipenga has said. The third review comes two months after the Board completed its second […]
=Malawi’s President Joyce Banda has had 12 tumultuous months since she took office in April last year. She has attempted to right Malawi’s economy by devaluing its currency, giving herself a 30 percent pay cut and proposed to offload a fleet of Mercs for her 35 member cabinet. But the economy has continued to sputter […]
The Council for Non-Governmental Organisations in Malawi (Congoma) on Wednesday said International Monetary Fund (IMF) prescriptions imposed on Malawi such as a combined dose of 49 percent currency devaluation; floatation of the kwacha and removal of subsidies of fuels is hurting Malawians. Congoma board chairperson Voice Mhone accused President Joyce Banda for implementing in full […]
Malawi economy is slowly healing with the local currency, the Malawi kwacha, showing signs of stabilisation on account of weak demand for foreign exchange, National Bank of Malawi (NBM) has said. And the International Monetary Fund (IMF) has forecasted Malawi’s real Gross Domestic Product (GDP) growth rate next year at 6.1 percent which represents a […]
In Weekend Nation newspaper, popular columnist Ephraim Munthali of the ‘Cut the chaff‘continues to critique the economic performance of President Joyce Banda. Here if the full articled as it appeared: So, the International Monetary Fund (IMF) came to Malawi, peeped into our little bundle of forex at the Reserve Bank of Malawi, saw an uptick in our import cover […]
Although am writing this piece of paper in a layman’s perspective, but am very certain that I can contribute something. Yes, I ‘am not an economist by profession but with handful knowledge on economy acquired from the subject of political economy, I think I can help my fellow local Malawians to see where our economy is […]
The Executive Board of the International Monetary Fund (IMF) on Monday completed the second review of Malawi’s economic performance under a program supported by the Extended Credit Facility (ECF) arrangement. The board’s decision enables the immediate disbursement of an amount equivalent to about US$19.6 million bringing total disbursements under the arrangement to an amount of […]
Does giving aid entitle donors to have a say on who should lead? The opinion expressed recently by western donors in Malawi, favouring and supporting President Joyce Banda, whom most critics and analysts have concluded is simply their puppet, is out of order and must be denounced. The announcement adds a new dimension to the […]
Former First Lady, Calista Chapola Mutharika, came out of her cocoon and took a swipe on President Joyce Banda, blaming her for ‘grossly’ failing to rule the country and putting Malawians in deep misery beyond reach. She was guest of honour at Pastors Voices Fraternal conference at Assemblies of God Church in Chemusa, Blantyre on Saturday […]