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IMF HAPPY WITH STRIDES TO REVIVE ECONOMY

The Deputy Director General of the International Monetary Fund (IMF) Gita Gopinath has expressed satisfaction over the economic reforms that the Malawi government is implementing to resuscitate the economy.

Speaking at the Kamuzu Palace after two hours of talks with President Dr Lazarus Chakwera, Gopinath said IMF is happy to see the results of the reforms and was quick to pledge more support to Malawi in its quest to revive the economy and be able to win donor confidence.

“We understand the challenges that Malawi is facing but we are excited to see the effort and I urged President Chakwera to keep up the momentum because the issue of reforms is part of the discussions that the IMF Mission on the Extended Credit Facility will hold with the Malawi government.

“The IMF and management are fully committed to supporting Malawi in this transformation,” said Gita Gopinath.

Minister of Finance, Sosten Gwengwe, said the visit by the Deputy IMF boss demonstrates the Fund’s commitment to help Malawi get out of the economic turbulence that the country is going through.

“They are happy with reforms such as the IFMIS, the reforms at the Reserve Bank of Malawi and governance issues,” said Gwengwe.

He further said President Chakwera urged the Fund to consider the ECF as a matter of urgency.

A team from the IMF will arrive in the country soon to review Malawi’s economic performance, a basis for the country’s qualification for an Extended Credit Facility Programme.

Reported by Isaac Jali.

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