US predicts doom for Malawi unless necessary commitments made to qualify for 2nd ECF
Government of the United States of America (USA) has warned that Malawi risks losing out on the second tranche of the Extended Credit Facility (ECF) of the International Monetary Fund (IMF) unless the country takes take additional measures to keep itself in the right economic trajectory.
Deputy Assistant Secretary of State for Treasury – Africa and the Middle East, Eric Meyer, observed that Malawi may not be able to meet the commitments necessary to receive the second tranche.
Meyer made the sentiments in Lilongwe on Monday.
He said, among others, that Malawi needs to control ballooning expenditures and ensure speedy full implementation of the Integrated Financial Management and Information System (IFMIS).
Meyer, who has been in the country for about a week, meeting government officials to discuss U.S government’s concerns about Malawi’s current economic trajectory has since recommended for urgent leadership and action at all levels of government.
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Doom will come from depending on and getting enslaved to world bank and imf. There was a time under President Bingu Malawi performed fairly well withing reliance on loans. Bilateral aid should aim to free economies rather than yoke them to agencies that facilitate imperial order