World Bank, IMF, US pledge more support to Malawi

The World Bank and International Monetary Fund (IMF) have said they are pleased with economic reforms  being carried by President Joyce Banda government in Malawi and assured  their continued support to the country.

Managing Director of the World Bank (WB) Sri Mulyani Indrawati, told a news conference on Monday at the World Bank (WB)’s headquarters that she has held official discussions with Malawi’s leader  on macro-economics, in order to restore confidence between them, saying this was necessary to maintain a budget as required by the policy and priorities of the WB.

Indrawati said  her origination had deeply contemplated and decided of supporting Malawi economically for it to implement development initiatives, including poverty reduction project, the health sector initiative, HIV /Aids and malnutrition fight, among others.

President Banda with IMF's Largande (L) and World Bank''s Idrawati Photo by Govati Nyirenda/Mana

”The World Bank will release US$150million to cushion the shock facing the people of Malawi,” said Indrawati.

She said President Banda, within 100 days she has led Malawi she demonstrated good and sound economic management, which has convinced the international community like the World Bank, hence to support reforms that she put in place to be implemented for the good of all Malawians.

”As a bank we are happy with the reforms that President Banda has in her mind, we feel we should continue helping her to recover the economy.

The World Bank has been supporting many programmes in Malawi since 1964.

On the other hand, IMF Managing Director,  Christine Largarde told journalists President Banda met her at  the fund’s  headquarters that President Banda “is changing the perception that the world has about Malawi.”

She said she discussed about economic situation and the work that has completed: “’We discussed the support that the IMF can give to the country. And also by way of encouraging other countries which are to support Malawi bring the country forward.”

The World Bank has been providing financial assistance on various social economic development programs in Malawi since 1964, for some three years ago the bank has been skipping the country on aid due to poor governance, undemocratic principles, and violation of human rights of  late Bingu wa Mutharika administration.

Meanwhile, administrator for U.S.  Agency for International Development (USAID) Dr Rajiv Shah has said his organisation was geared to speed development assistance to Malawi.

”We had great conversation with President Joyce Banda about making sure that the USA Government is fully supporting the political, democratic and development reforms she is putting in place in Malawi,” said Dr Shah

He said their government will accelerate their economic support to the government of Malawi, specifically the presidential initiatives that will help the women at the moment of giving birth, so that they are safe.

“We will assist projects on women to be safe especially at the time of delivering.And we will support the people of Malawi to achieve their quest to have enough food,” said Shah.

The USAID is running various programmes in Malawi, on health, education, sustainable economic growth, democracy, human rights and governance, malaria initiative, global health initiative and feed the future, global climate change initiative among others.

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