Domestic debt jumps 9 percent | The Times Group: Malawi’s outstanding domestic debt stock accelerated by nine percent from K1.37 trillion to K1.5 trillion in the second quarter of 2018, figures from the Reserve Bank of Malawi (RBM) indicate. The K1.5 billion is slightly higher than the K1.45 trillion budget for the 2018/19 financial year.
Business and Economic News from Malawi
Showing posts with label Domestic debt. Show all posts
Showing posts with label Domestic debt. Show all posts
Sunday, September 16, 2018
Thursday, May 31, 2018
Malawi’s domestic debt likely to quadruple amid falling public revenues
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."
'via Blog this'
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."
'via Blog this'
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