Minister of Trade, Sosten Gwengwe, has expressed optimism that Malawians will reap the full benefits of the International Monetary Fund’s Extended Credit Facility this year.
In an interview with MBC, Gwengwe said now that inflation has taken a downward trend, Malawians should expect the availability of foreign exchange and a stabilised economy.
“Let me also take this opportunity to thank the private sector for being resilient despite operating in a challenging economic environment. The sector passed through troubled waters but remained steady in its operations.” Said Gwengwe.
The minister has urged Malawians to embrace positivity in 2025 and trust the country’s leadership.
In 2023, the International Monetary Fund (IMF) approved a 4-year $174 million Extended Credit Facility for Malawi after the country mutually agreed with the IMF to cancel the existing programme in 2020, citing policy change.
