Deputy Managing Director and Chair of the IMF Executive Board, Tao Zhang, has announced the board’s approval of U$91m under the Rapid Credit Facility (RCF) to help Malawi meet the urgent balance of payment (BOP) needs stemming from the COVID-19 pandemic.

An International Monetary Fund (IMF) mission team is in the country for a second and third review of the Extended Credit Facility (ECF) program that will lead to further disbursement of resources.