Malawi’s Extended Credit Facility on track

IMF has declared Malawi’s Extended Credit Facility on track. IMF says this is due to good management of domestic finance since September 2015. 

This was disclosed at a press briefing that IMF and Minister of Finance Goodall Gondwe addressed in Lilongwe.

IMF says it appreciates the hard work that Malawi government has put in to bring the programmes back on track.

The fund has however, asked government to work on bank reconciliations and report on arrears going forward.

IMF has also promised to assist the government in formulating the 2016/17 budget so that domestic borrowing remains in check

Minister of Finance Gondwe says the momentum will be maintained especially on domestic borrowing and reporting on arrears.