The International Monetary Fund (IMF) has commended the Government of Malawi for holding productive and constructive discussions with the new administration during the Fund's annual meetings held earlier this month in Washington, D.C.

IMF spokesperson Julie Kozack said the institution was encouraged by the engagement and looks forward to supporting Malawi's efforts to stabilize its economy and implement meaningful reforms.

"We look forward to continuing discussions on the authorities' plans to restore macroeconomic stability and on how the IMF can best support their reform efforts," Kozack said.

Malawi's previous IMF programme was terminated in May after it failed to achieve key macroeconomic targets. The country is now seeking a fresh agreement aimed at rebuilding confidence among development partners and restoring fiscal discipline.

President Peter Mutharika, who assumed office earlier this month, inherits an economy grappling with severe fiscal imbalances, rising inflation, and foreign exchange shortages.

Minister of Finance and Economic Development Joseph Mwanamveka recently emphasized that an IMF-supported programme is vital for unlocking donor confidence and strengthening partnerships with international financial institutions.

"An IMF programme is key to rebuilding trust with our development partners and opening doors to much-needed financial support," Mwanamveka said.