IMF decides Malawi’s Extended Credit Facility Monday | The Times Group:
The International Monetary Fund (IMF) is Monday expected to decide on whether or not to give
Malawi a new Extended Credit Facility (ECF) programme.
The IMF Mission Team— which came to Malawi in February this year and had discussions with
Capital Hill— is today expected to present the Malawi case to the institution's board in Washington
DC.
Malawi's last ECF programme valued at $156.2 million expired in 2017. The facility was approved
in 2012 during the leadership of former president Joyce Banda—and was meant to cushion
Lilongwe from economic shocks such as dry spells and floods.
Ahead of today's meeting, both Capital Hill and IMF have indicated that the pillar for the next ECF
programme— if approved—would be microeconomic stability so as to enhance growth of Malawi's
economy.
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