World Bank Meets Govt Officials
A World Bank team currently in the country has met officials from the ministry of finance to discuss the state of Malawi’s economy.
World Bank communications officer for Malawi Zeria Banda has confirmed the meeting.
“Tomorrow [Thursday, March 8, 2012] the delegates are holding a conference on trade in Lilongwe” she added.
The World Bank team comes amid revelations of an offer of a US$500 million bailout package from donors to get the country back on track.
Government officials including President Bingu wa Mutharika have repeatedly said donors are demanding a 40 percent devaluation of the kwacha but the proposal has been vehemently opposed as of now.
During the opening of the Malowa-Goliati-Chiperoni road, now named after the president, Mutharika took a swipe at donors’ intervention on the country’s economy claiming they are hindering him from solving Malawi’s problems.
For over six months, Malawi whose imports surpasses exports, has faced acute forex shortage resulting in failure to import basics like fuel and drugs.—Zodiak Online
|< Prev||Next >|