Malawi: Finance Minister Upbeat On IMF Facility

7 August 2022
Nyasa Times (Leeds)
By Owen Khamula

Finance minister Sosten Gwengwe says he is upbeat Malawi will get the Extended Credit Facility (ECF) saying talks with the IMF are on track.

Government hopes the ECF will bring back to life the ailing economy.

Gwengwe has expressed optimism that Malawi will get the facility, saying discussions are at advanced stage.

Recently, as demanded by the IMF, Government submitted the audited report on foreign exchange misrepresentation committed under the previous regime.

However, the two parties still need to agree on other teething issues like public debt management.

The recent IMF board meeting skipped Malawi on consideration of the economic relief package but approved Kenya's $235.6 million and Tanzania's $1.04 billion packages.

Read the original article on Nyasa Times.

Tagged:
Copyright © 2022 Nyasa Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.