IMF RECOMMENDS MALAWI FOR 20 MILLION $ EXTENDED CREDIT FACILITY AS APM GAINS BACK DONORS CONFIDENCE

The International Monetary Fund has expressed confidence in he leadership of Arthur Peter Mutharika and further recommended that Malawi can be given monetary support in the Extended Credit Facility scheme.

Speaking in Lilongwe on Thursday, 18 December, 2014. The IMF representative in the country ,Mr.OralMr.Oral Williams told a press briefing in along with the Minister of Finance, Dr. Goodal Gondwe that, despite the fact that the IMF did not reach a resolution to start supporting Malawi in October 2014 owing to the cash gate scandal which has seen billions of tax payers money being wasted.

It has pleased the International Monetary Fund to recommend Malawi among other countries eyed to receive funds in the 6th scheme of Extended Credit Facility.

Mr.WilliamsMr.Williams hinted that the talks on the economic situation of Malawi has been concluded but it remains the final decision of IMF at their headquarters in Washington to grant Malawi 20 Million Dollars in the 6th phase of Extended Credit Facility (ECF).

This means that if IMF concludes to start supporting Malawi in various programs,the country will receive 20 Millions Dollars in this phase of ECF.

According to Minister of Finance and the IMF representative in the country, this follows the good economic initiatives that the Malawi government has taken under the leadership of Professor Arthur Peter Mutharika.

Mr Gondwe went ahead to say that he is very much optimistic that in six months’ time, all potential donors in the country will be in the position to start helping the country again and this will result in an improved economic situation as well as living standards for many Malawians.