Govt Optimistic on ECF Resumption

Government says it is optimistic about resumption of a four-year Extended Credit Facility (ECF) programme with the International Monitory Fund (IMF) as the board for the international body meets next month to decide on Malawi’s fate.

Finance minister Sosten Gwengwe told journalists in Lilongwe this morning that IMF officials and government have meanwhile agreed on structural benchmarks for the four-year programme which is the last step in the negotiation process.

Minister Gwengwe has however dismissed fears that the misreporting of the audit report to the IMF by the previous Mutharika administration could block the new ECF but Malawi maybe asked to refund.

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Last modified on Monday, 06/06/2022

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