Gwengwe during the media briefing
* IMF officials arrived in the country the previous week doing economy valuations
* IMF’s mission is to give us loans but they can’t give Malawi exceedingly since the country has no capacity for more loans
By Temwa Malire, MANA
Minister of Finance and Economic Affairs, Sosten Gwengwe says Government has put in contemplation for the balance payment support initiative which would help solve some of the forex issues that the country was going through.
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Speaking during a press briefing that took place at Centre of Information (COI), whose intention was to unveil the success of United Nations General Agency (UNGA), Gwengwe said International Monetary Fund (IMF) officials arrived in the country the previous week doing economy valuations.
He said Managing Director for IMF has commended stakeholders like World Bank and donors to offer grants to Malawi subsequently as this was what the country necessities utmost now.
“IMF’s mission is to give us loans but they can’t give Malawi exceedingly since the country has no capacity for more loans, regarding the current economic state all that the country needs are grants not loans for its own benefits,” Gwengwe said.
Signing of an MoU with US government
Chakwera with World Bank Managing Director, Axel Von Trotsenburg
During his visit to the United States, President Lazarus Chakwera had a meeting with the IMF’s Managing Director, Kristalina Georgivia on which the basic line for the Assembly highlighted that Malawi is on the right path to qualify for the extended credit facility.
Chakwera’s participation at UNGA has been a chronicled success as it represented an opportunity to put Malawi’s voice on global matters that impacts the nation and to solicit and consolidate international cooperation towards the global economic recovery among aligned aspects.
The President left the country for New York, in the United States of America, to attend a high-level segment of the 77th session of the UNGA, the core of the press brief was an account of outcomes of the various engagements the President had with his delegation.
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