Jan 21, 2018 Last Updated 7:39 AM, Jan 19, 2018
×

Warning

JFile: :read: Unable to open file:

IMF Approves $26.9 Million For Malawi

The Fund projects that Real GDP Growth is expected to pick up in 2017 The Fund projects that Real GDP Growth is expected to pick up in 2017 Image sourced at gettyimages.com
Published in Business News
Read 10638 times
Rate this item
(0 votes)
Tagged under

The International Monetary Fund (IMF) has approved the disbursement of $26.9 Million to Malawi under the Extended Credit Facility (ECF) programme. 

The program is aimed at the achievement and maintenance of macroeconomic stability and implementation of policies and structural reforms to spur growth diversify the economy and reduce poverty.

The approval follows the completion of the ninth and final review of Malawi’s economic performance under the ECF arrangement by the IMF Board.

This brings total disbursements to Malawi under the arrangement to $191.4 million.

In a statement released after the meeting, IMF Deputy Managing Director Mitsuhiro Furusawa observed that Malawi’s economy has been severely hit by two consecutive years of weather-related shocks, which placed an estimated 40 percent of the population at risk of food insecurity.

He added that relief efforts helped stabilise maize prices and alleviate the adverse impact of the drought on the vulnerable population adding that the increase of access under the ECF arrangement and sizable contributions from development partners enabled the authorities to address the worst humanitarian crisis in its history.

The Fund, however, projects that Real GDP Growth is expected to pick up in 2017 due to better prospects for agricultural output, including the maize harvest.

It also added that Annual inflation is also expected to remain on a downward trend. However, the macroeconomic outlook remains challenging, reflecting uncertainties related to adverse weather conditions and policy slippages.

The IMF further advises that the near-term policy mix should centre on reducing inflation by combining tight monetary and fiscal policies by limiting expenditures to available resources and that monetary policy should aim at maintaining positive short-term real money market interest rates.

The government is also being pushed to strengthen public financial management, including through strong commitment controls, routine bank reconciliations, and regular fiscal reporting.

The Fund stresses that this remains critical to preventing the misappropriation of public funds and rebuilding trust and confidence in the budget process.

Improved revenue mobilization and expenditure efficiency is also being described as key in reducing aid dependency and create fiscal space for social spending in pursuit of the country’s sustainable development goals.

Capital Hill is also being called upon to implement what the IMF calls a prudent fiscal policy to safeguard medium-term fiscal and debt sustainability.

1959 comments

  • Comment Link Katrinamut Katrinamut Wednesday, 13 December 2017 15:30

    payday loan online
    payday advance
    payday loan online
    online payday loans

  • Comment Link Andrewunelp Andrewunelp Wednesday, 13 December 2017 12:47

    get rid emails viagra
    viagra without prescription
    where do i buy generic viagra
    viagra without prescription
    can you buy viagra in pharmacy

  • Comment Link click here click here Wednesday, 13 December 2017 12:43

    Would you be all in favour of exchanging hyperlinks?

  • Comment Link floral law floral law Wednesday, 13 December 2017 10:12

    A powerful share, I just given this onto a colleague who was doing a bit of analysis on this. And he in reality bought me breakfast as a result of I discovered it for him.. smile. So let me reword that: Thnx for the deal with! However yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading extra on this topic. If doable, as you turn out to be expertise, would you thoughts updating your blog with more particulars? It is extremely useful for me. Large thumb up for this blog post!

  • Comment Link Playday Playday Wednesday, 13 December 2017 07:59

    cialis online
    cialis 40 mg tablets cialis
    http://calismdmrxonline.com.com
    cialis generic sale
    cheap cialis

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Capital Tweets

Any data to display

Find Us on Facebook