Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Visit to the Republic of Malawi on the Request for a Disbursement under the Food Shock Window and for a Staff Monitored Program with Executive Board Involvement

The authorities have requested a Fund-supported program to help address Malawi’s urgent Balance of Payments (BOP) financing needs and restore macroeconomic stability

Malawian authorities and IMF staff had productive discussions and made good progress on the authorities’ request for a disbursement under the Rapid Credit Facility (RCF)-Food Shock Window and for an IMF Staff Monitored Program with Board Involvement (PMB). Financial support by the Fund would help address Malawi’s immediate financing needs and…

Source: International Monetary Fund (IMF) |

Statement by International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Meeting with President Lazarus McCarthy Chakwera of the Republic of Malawi

Tackling the country’s economic challenges effectively calls for a concerted effort by all stakeholders, including the support of the international community

IMF Director Kristalina Georgieva met with President Lazarus McCarthy Chakwera of Malawi and issued the following statement. “I was very pleased to welcome President Chakwera at IMF Headquarters today. We had a very thoughtful and productive discussion on the difficult economic situation facing Malawi. I was impressed by the President’s…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Mission to the Republic of Malawi for Discussions on the Request for a Four-Year Extended Credit Facility Arrangement

The authorities have requested an arrangement in the back of the protracted balance of payments problem

The Malawian authorities and IMF staff had positive and productive discussions on policies needed to restore macroeconomic stability, ensure public debt sustainability, and advance structural reforms to support sustainable and inclusive growth and address the impact of the COVID pandemic, spillovers from war in Ukraine and climate-related shocks; the authorities’…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2021 Article IV Consultation with the Republic of Malawi

President Chakwera’s Malawi Vision 2063 aims for the country to reach upper-middle income status by 2063 by investing in physical and human capital

The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Malawi on December 13, 2021. Malawi’s economy has been severely affected by the COVID-19 pandemic and faces additional challenges. Growth has contracted by 4½ percent in 2020 compared to pre-pandemic levels in 2019,…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2021 Article IV Mission to the Republic of Malawi

Real GDP growth is projected to pick up to 2.2 percent in 2021 from 0.9 percent in 2020, helped by a good harvest

Malawi’s economy has been severely affected by the pandemic and debt burden. While the daily COVID-19 positive cases remain relatively low, recovery is gradual. Real GDP growth is projected to pick up to 2.2 percent in 2021 from 0.9 percent in 2020, helped by a good harvest; Substantial development and…

Source: International Monetary Fund (IMF) |

Statement by IMF African Department Director Abebe Aemro Selassie on Meeting with President Lazarus McCarthy Chakwera of the Republic of Malawi

Commended them on their on-going efforts to combat corruption and enhance transparency and accountability in the use of public resources

Mr. Abebe Aemro Selassie, Director of the African Department at the International Monetary Fund (IMF) today met with President Lazarus McCarthy Chakwera of Malawi. He also met Malawi’s Vice President Salous Klaus Chilima and senior officials at the Ministry of Finance and Reserve Bank of Malawi (RBM). At the conclusion…

Source: International Monetary Fund (IMF) |

Coronavirus - Malawi: IMF Executive Board Approves an Additional US$101.96 Million Disbursement under the Rapid Credit Facility for Malawi to Address the COVID-19 Pandemic

This additional IMF financing will help fill part of the resulting increased external financing gap and provide the fiscal space needed to address critical spending needs

This is the second disbursement under the Rapid Credit Facility (RCF), which brings total IMF COVID-19 emergency support to Malawi to US$193 million; Malawi’s economic outlook has worsened since the first RCF as COVID infections have risen and the global and regional economic situation has deteriorated; This additional IMF financing…

Source: International Monetary Fund (IMF) |

Coronavirus – Malawi: International Monetary Fund (IMF) Executive Board Approves a US$91 Million Disbursement under the Rapid Credit Facility for Malawi

The pandemic is expected to have a significant impact on Malawi including affecting the near-term economic outlook, which has deteriorated significantly

The International Monetary Fund approved a disbursement of US$91 million under the Rapid Credit Facility to help Malawi meet the urgent balance of payment (BOP) needs stemming from the COVID-19 pandemic; The pandemic is expected to have a significant impact on Malawi including affecting the near-term economic outlook, which has…

Source: International Monetary Fund (IMF) |

Statement at the End of an International Monetary Fund (IMF) Staff Visit to Malawi

An International Monetary Fund (IMF) team led by Pritha Mitra, Mission Chief for Malawi, visited Lilongwe from September 10-17, 2019

Malawi’s recent economic performance has been favorable despite the impact of Cyclone Idai; Economic growth is expected to strengthen to about 4.5 percent in 2019 supported by a rebound in agriculture in most of the country and reconstruction of infrastructure damaged by the cyclone; Inflation is expected to remain in…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Reaches Staff-Level Agreement on the First Review of Malawi’s Extended Credit Facility

The International Monetary Fund (IMF) team reached a staff-level agreement with the authorities of Malawi on the completion of the first review under the Extended Credit Facility (ECF), which is subject to the approval of the IMF Executive Board

The IMF team reached a staff-level agreement with the authorities of Malawi on the completion of the first review under the Extended Credit Facility; Moderate economic growth is likely to strengthen to about 4 percent in 2019, followed by a rise to 6-7 percent over the medium term; Looking forward,…