AfDB approves Malawi’s economic strategy - Vanguard News

AfDB approves Malawi’s economic strategy - Vanguard News: The African Development Bank has approved its Country Strategy Paper for Malawi for 2018-2022 to boost economic diversification, reduce dependency on rain-fed agriculture and build resilience for growth in the southern African nation. The Country Strategy Paper will guide the African Development Bank’s operations in Malawi with regards to its financial, technical and knowledge assistance to the country.

Admarc invests K800m in cotton production - The Nation Online

Admarc invests K800m in cotton production - The Nation Online: State produce trader Agricultural Development and Marketing Corporation (Admarc) has invested about K800 million in cotton irrigation farming in Chikwawa to increase output and boost the cotton industry.

Production of cotton, Malawi’s number four foreign exchange earner after tobacco, tea and sugar, has over the years been decreasing due to what experts say is lack of sustainable input supply system arising from lack of financial support to farmers due to loan defaults.

Firm sees inflation rate on bumpy ride - The Nation Online

Firm sees inflation rate on bumpy ride - The Nation Online: alawi faces a rollercoaster ride of rising inflation rate as the country is in the lean season in terms of food availability, an investment management and advisory firm has said.

In its September 2018 economic outlook, Nico Asset Managers Limited, a subsidiary of listed financial services group Nico Holdings plc, noted that the food inflation will continue to rise largely due to the lean season that has begun much earlier in� September rather than the usual October

IMF cuts Malawi’s Growth to 3.3% - The Nation Online

IMF cuts Malawi’s Growth to 3.3% - The Nation Online: IMF cuts Malawi’s Growth to 3.3% Eric Mtemang’ombe October 11, 2018 0 Comments � Malawi’s gross domestic product (GDP) growth will drop to 3.3 percent in 2018, declining by 0.7 percentage points from four percent recorded in 2017, blamed on declining maize output and power outages that have slowed down industrial growth, the International monetary Fund (IMF) has said. The IMF projection, contained in the World Economic Outlook for October 2018 released on Monday, is 0.2 percentage points lower than the economic growth recorded in 2017 and 2.4 percentage points lower than the 2018 average for low income countries.

IMF says 5% inflation target achievable | The Times Group

IMF says 5% inflation target achievable | The Times Group: The International Monetary Fund (IMF) has said Malawi could attain the five percent inflation target by 2021 if the system maintains a prudent economic management.

The Fund said the economy could even attain disinflation—a temporary slowing of the pace of price inflation by 2023.

Malawi’s headline quickened by 0.3 percentage points in August to 9.3 percent as escalating food prices continued to bite.

Malawi to tap electricity from Mozambique - official - Journal du Cameroun

Malawi to tap electricity from Mozambique - official - Journal du Cameroun: Mozambique’s deputy Minister of Mineral Resources and Energy, Augusto Fernando has said his country and Malawi are to be interconnected through the Mozambican national power grid.Fernando told APA in an exclusive interview on Monday that the bid to build the power-lines interconnecting the two countries is expected to be launched next year. “In addition to the interconnection, between the two countries, a branch line from Malawi back to northern Nampula province and elsewhere in the country, will be built in the future. This will allow Mozambique to have a second alternative because we always think Tete has Cahora Bassa, which supplies electricity”, he said in Maputo.

Malawi’s compact fate in December - The Nation Online

Malawi’s compact fate in December - The Nation Online: Following a failed meeting between President Peter Mutharika and Millennium Challenge Corporation (MCC) executives in New York, Malawi will have to wait until December when the MCC Board will decide on eligible countries for the next compact financing.

Khato water deal back - The Nation Online

Khato water deal back - The Nation Online: Khato water deal back Frank Namangale October 7, 2018 0 Comments Government has signed a deal with a financier of the K400 billion Lilongwe-Salima Project, effectively putting on course the project that faced several hurdles, Nation on Sunday has established.

Terrastone workers stage protests over abuse, low pay | The Times Group

Terrastone workers stage protests over abuse, low pay | The Times Group: Workers for Terrastone Construction Limited which is building Malawi Bureau of Standards (MBS) laboratory complex in Blantyre have downed tools over alleged abuse and low pay.

The workers who are over 100 staged protests at the gates of the construction site yesterday morning to force Terrastone management to look into their challenges.

IMF expects 4 pct growth in Malawi in 2019, economy performing well | Reuters

IMF expects 4 pct growth in Malawi in 2019, economy performing well | Reuters: IMF expects 4 pct growth in Malawi in 2019, economy performing well
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BLANTYRE, Oct 6 (Reuters) - The International Monetary Fund (IMF) said it expected Malawi’s economy to grow by around 4 percent in 2019, followed by a rise to 6-7 percent over the medium term.

In a statement on Friday, the IMF said Malawi was performing well under a three-year $112 million loan facility agreed earlier this year to help the southern African country reform its economy.

“Malawi’s economy continues to grow while inflation remains on a declining trend,” the statement read.