Jul 21, 2017 Last Updated 2:00 PM, Jul 21, 2017
×

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 858 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.

81 comments

  • Comment Link magazin de pescuit magazin de pescuit Thursday, 20 July 2017 09:18

    This is a great post ! thankyou for posting this

  • Comment Link echipament pescuit ieftin echipament pescuit ieftin Thursday, 20 July 2017 08:59

    Would you be interested in exchanging links?

  • Comment Link pressure washers pressure washers Thursday, 20 July 2017 07:44

    Spot on with this write-up, I truly think this website needs much more consideration. I?ll probably be again to read much more, thanks for that info.

  • Comment Link Petersloff Petersloff Thursday, 20 July 2017 01:13

    1000 dollar loan with bad credit
    500 payday loan
    how to get cash
    money today
    michigan payday loans
    i need cash
    cash advance places near me
    direct loans servicing
    loans in houston
    small personal loan bad credit
    payday loans for bad credit direct lender
    cash loans in md
    applying for personal loans
    national loans
    payday loans in nc
    payday loans san antonio tx
    payday loans with monthly payments
    24 hour payday loans
    top 10 loan companies
    small loan with bad credit
    how does cash advance work
    cash america payday advance
    loans lenders only
    income based loans
    guarantor loans online

  • Comment Link biro psikologi di yogyakarta biro psikologi di yogyakarta Wednesday, 19 July 2017 20:51

    I am often to blogging and i really appreciate your content. The article has really peaks my interest. I am going to bookmark your site and keep checking for new information.

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