IMF SENDS ENVOY TO MALAWI

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The International Monetory Fund (IMF) has sent an envoy to monitor progress of the Country's Extended Credit Facility (ECF) programme.


According to IMF country representative Nelnan Koumtigue, the IMF delegation has since arrived in the country and is expected to hold meetings with officials from Treasury and Reserve Bank of Malawi among other engagements.


Koumtigue further stated that the delegates are also expected to assess comprehensively the Country's current macroeconomics developments.


In September 2023 the International Monetary Fund (IMF) and Malawian Authorities  reached a staff level agreement on the second (and last) review of the Staff Monitored Program with Executive Board Involvement (PMB), and a microeconomic and financial policies and reforms to be supported by a new 48-month financing arrangement under the Extended Credit Facility (ECF) of about $174.00 million.


The ECF is to support Malawi's ongoing efforts to restore a stable and sustainable macroeconomics position consistent with strong and durable Poverty reduction and growth as envisaged under Malawi's 2063 goals .


The ECF arrangement aims to support the authorities' commitment to restore macroeconomic stability, build a foundation for inclusive and sustainable growth, including to strengthen resilience to climate-related shocks, and address weaknesses in governance and institutions.


Benjamin GK Nyirenda 

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