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Friday, June 15, 2012

Malawi's donors pledge nearly $500 mln in budget aid



Fri Jun 15, 2012 2:00pm GMT

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1 of 1Full SizeBy Mabvuto Banda

LILONGWE (Reuters) - Malawi's donors have pledged $496 million in budget support for the 2012/13 financial year, more than double pledges for the previous year's budget, Finance Minister Ken Lipenga said on Friday.



Malawi's economy had been teetering on the brink of collapse after former President Bingu wa Mutharika picked a fight with donors whose support usually accounted for about 40 percent of the budget.



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