Malawi’s domestic debt likely to quadruple amid falling public revenues: "Lilongwe — Malawi’s domestic debt is likely to more than quadruple in the next financial year as the government tries to cover falling public revenues, the finance minister said on Tuesday.
Goodall Gondwe told parliament the government planned to borrow 176-billion kwacha ($246m) in the financial year starting in July, up from 30.7-billion kwacha in 2017-18.
Government revenues have been hit by a 45-billion kwacha bailout of state-run Agricultural Development and Marketing Corporation, as well as low revenue collection and the failure to receive 55-billion kwacha in grants from donors, he said.
Western donors have suspended aid to Malawi over graft allegations."
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