The IMF team reaches a staff-level agreement with Malawi Government on the completion of the first review under the Extended Credit Facility.
IMF predicts economic growth of 4 percent in 2019, followed by a rise to 6-7 percent over the medium term.
It also predicts inflation to remain in single digit in 2018 and slow down to 5 percent in the medium term
May 9, 2018:
IMF says Malawi’s economy has made progress in achieving macroeconomic stabilization.
It notes this follows two years of severe drought and lingering consequences of Cashgate.
It reports that government is committed to achieving this goal while maintaining medium-term debt sustainability
April 30, 2018
IMF Executice Board Approves US$112.3 Million under the ECF Arrangement for Malawi.
It observes that economy has rebounded from two years of drought. Growth picked up from 2.3 percent in 2016 to an estimated 4.0 percent in 2017 owing to a recovery in agricultural production.
Inflation has been reduced below 10 percent—from high double digits in recent years. The banking system remains stable
February 14, 2018
IMF staff predicts economic growth in the range of 3-5 percent is expected in 2018, followed by a rise to 6-7 percent over the medium term.
It reports that Government will deploy strong remedial measures to address the widening of the budget deficit
“They are committed to irrevocably close out the arrears clearance program”.
July 5, 2017
IMF mission observes that government and development partners have successfully addressed Malawi’s worst humanitarian crisis after two consecutive years of drought.
Floods and drought negatively impacted 2.8 million people during the first half of 2015.
In 2016, a second consecutive year of drought hurt growth and further placed about 6.7 million people (40 percent of the population) at risk of food insecurity.
June 21, 2017
IMF Executive Board Completes Ninth Review under Malawi’s ECF Arrangement and approves US$ 26.9 million immediate disbursement
The program is aimed at macroeconomic stability, growth, economic diversity and reduced poverty.
December 5, 2016
IMF extends its program with Malawi to provide additional time for the authorities to achieve the program’s objectives.
The program aims to spur growth, diversify the economy and reduce poverty
June 20, 2016
IMF Executive Board completes Seventh and Eighth Reviews under Malawi’s ECF Arrangement and approves US$ 76.8 million Disbursement