Malawi has failed to meet International Monetary Fund (IMF) set targets on social spending by small margin, the global leader said on Tuesday. The IMF’s mission head for Malawi, Tsidi Tsikata, told a news conference in the capital Lilongwe the Fund’s mission which was in the country blamed the Malawi government for failing to meet agreed […]
Watching the behind-the-scenes short documentary on Joyce Banda, the fourth president of Malawi, it is clear that she is acutely aware of the challenges she faces, as she tries to fix the ailing economy she inherited from her predecessor, Bingu wa Mutharika, who died of a heart attack while in office in April last year. IMF chief […]
Mukan’nenere, mukan’nenere kwa oyang’anira za chuma, Mukan’nenere!! Mfundo za chumazi inu zabwera udyo – Mukan’nenere!! Kodi mukufuna akondwe ndani?- Mukan’nenere!! IMF kapena World Bank?- Mukan’nenere!! Mwina nkumene kuli anthu a dera lanu – Mukan’nenere!!” – McDonald Mlaka Maliro Lessons from Botswana: Botswana was, along with Malawi, one of the 10 poorest countries in the world […]
A report on BBC Focus on Africa television programme monitored by Nyasa Times on Thursday captured Malawians facing economic hardships as the results of devaluation and consequent floation of the kwacha currency. The poor – 39% of the 13 million citizens, living on less than one dollar a day – suffered much from the devaluation, […]
University of Malawi academic Dr Jessie Kabwila, who led the battle over academic freedom, says the visit of the International Monitory Fund (IMF) Managing Director Christine Lagarde is not something that Malawians should be proud of as it just confirms that the country is now a puppet of the Bretton Wood institution. The IMF chief […]
Unmarked graves The grave that swallowed John Chilembwe is ‘nonexistent’. Leading some, skeptics always, to doubt if he really was killed by the Britons – our colonial masters. But even the graves of those who died 44 years later after Chilembwe’s death are mostly unknown. These are the people who were massacred by the same Britons in Nkhatabay upon the declaration of a […]
Malawian President Joyce Banda has strongly maintained that she won’t reverse the currency’s devaluation as consumer groups plan nationwide protests January 17 against soaring costs. Banda is strongly maintaining that her administration will never bow down to pressure from some economists and rights campiaigners who are asking her to reverse the devaluation and floatation of […]
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement today (Saturday January 5, 2013) in Lilongwe: “It is a great pleasure to be in Malawi for my first visit as Managing Director of the IMF. I had the privilege to meet President Joyce Banda and her cabinet, as well […]
IMF chief Christine Lagarde on Saturday praised Malawi’s President Joyce Banda for “bold” economic recovery reforms, saying the measures will lead to a turn-around despite their unpopularity. “Notwithstanding the current hardships, many of my interlocutors were confident the ongoing reforms will turn the economy around, an optimism that I share,” said Lagarde, wrapping up an […]
International Monetary Fund (IMF) managing director Christine Lagarde has predicted that Malawi’s GDP is more likely to double in 2013 due to reforms the Joyce Banda administration has made since April 2012. Lagarde was speaking on Friday at Kamuzu Palace in the capital Lilongwe after she had an audience with President Banda and other top government officials […]
President Joyce Banda says the International Monetary Fund (IMF) Managing Director Mrs Christine Lagarde’s visit to Malawi is a vote of confidence in the economic reforms that her government are implementing aimed at improving the ailing economy. Largade, whose organisation forced the admin of Joyce Banda to devalue the kwacha as a condition to receive […]
President Mrs Joyce Banda says is pleased with the International Monetary Fund (IMF) first review of the Malawi economic performance which has led to the release of a US$20million disbursement to Malawi. Malawi has been beset with economic problems since the IMF sharply curtailed lending facilities last year. Former leader Bingu wa Mutharika, who died […]
The International Monetary Fund (IMF) has approved $20 million (almost MK7 billion) for Malawi under its three-year Extended Credit Facility (ECF) support program. The approval of the funds means that Malawi so far has a total disbursement under the ECF program to $40.1 million (almost MK14 billion) out of the program’s total resources of $156.2 […]
The International Monetary Fund (IMF) managing director Christine Lagarde is expected to visit Malawi early next month for a two-day consultative mission. The IMF boss is expected to hold a number of consultative meetings with the President Joyce Banda and her cabinet among others. Finance Minister Ken Lipenga confirmed the development on Tuesday, according to […]
Despite being impressed with the country’s performance on some of the conditions it set under Extended Credit Facility (ECF), the International Monitory Fund (IMF) has advised Malawi not to rely on donors in finding long term solutions to address its current economic challenges. Malawi’s renowned economist professor Mathews Chikaonda recently also asked government authorities to […]
The fragile state of Malawi’s economic recovery was thrown into focus once more Thursday as the International Monetary Fund (IMF) announced the country’s growth was slowing in manufacturing and agriculture. IMF mission chief Tsidi Tsikata said in Malawi’s capital, Lilongwe on Thursday that it has revised its growth forecast for Malawi for 2012 to 1.9 […]
International Monetary Fund (IMF) has said it will continue supporting Malawi in the course of achieving its economic recovery. Speaking in Lilongwe on Friday, Deputy Director of African Department for IMF David Owen said IMF would help in promoting and achieving a speedy economic recovery, saying they are impressed with reforms government has undertaken. “IMF […]
The International Monetory Fund (IMF) has projected that Malawi’s 2012/2013 Gross Domestic Product (GDP) will grow by 4.3 percent and 5.7 percent respectively. The IMF indicated its focus in its October 2012 regional economic outlook report for Malawi just at the moment when economic authorities in the country have pegged the country’s GDP growth projection […]