International Monetary Fund, Malawi agree on Extended Credit Facility priorities | The Times Group

International Monetary Fund, Malawi agree on Extended Credit Facility priorities | The Times Group:

International Monetary Fund, Malawi agree on  Extended Credit Facility priorities


Malawi and the International Monetary Fund (IMF) have agreed that any programme engagement

within the Extended Credit Facility (ECF) should focus on increasing growth and reducing poverty

to consolidate the hard-won macroeconomic stability.

The agreement took centre-stage during a meeting between the two parties, which was meant to

take stock of the objectives and performance of the ECF, and the lessons for future engagement.





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SAA Dumps Malawi

SAA Dumps Malawi: "South African Airways (SAA) is dumping its Malawi route in a bid to stay financially viable.

South African media quotes sources familiar with the plan that the airline will also reduce flights on its profitable Johannesburg-Cape Town route by more than a third.

The South African flag carrier has been struggling financially and is facing possible liquidation."



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FMB slashes interest rates | Malawi 24 - All the latest Malawi news

FMB slashes interest rates | Malawi 24 - All the latest Malawi news: "FMB slashes interest rates 0
BY LUKE BISANI ON AUG 24, 2017 BUSINESS
First Merchant Bank (FMB) in Malawi has disclosed that it has slashed interest rates effective today.

This follows the announcement of a cut in interest rate to 18 percent by Reserve Bank of Malawi (RBM) due to economic stability and projected economic growth."



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Experts Call for Investment in Oil Grains

Experts Call for Investment in Oil Grains: "An economic expert in the agriculture sector believes oil grains such as, soya, sunflower and groundnuts, could bring in more money to the country than tobacco, which is the current main forex earner.

Dr. Ted Nakhumwa, chief economist at the Auction Holdings Limited Commodity Exchange told Zodiak on Thursday that legumes can generate about US440 million per year, if they are sold through properly structured markets just like tobacco."



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World Bank Yet To Release Aid To Malawi

World Bank Yet To Release Aid To Malawi: "The World Bank has not released the $80 Million support which it approved for the Malawi Government, the Reserve Bank of Malawi confirms.

The Breton Wood organisation approved the amount as budgetary support to Malawi almost two years after direct budgetary support was suspended.

During the presentation of the 2017/2018 National Budget, the Finance Minister Goodall Gondwe hinted that the funds would go towards the settlement of government arrears."



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Mkango renews Thambani licence

Mkango renews Thambani licence: "OHANNESBURG (miningweekly.com) – Aim- and TSX-V-listed Mkango Resources has been granted a further two years on its exclusive exploration licence for its Thambani project, in south-west Malawi, effective September 8, 2017."



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Malawi News Agency Online - CEAR exceeds previous volumes moved

Malawi News Agency Online - CEAR exceeds previous volumes moved: "Blantyre, August 08, 2017: The Central East African Railways (CEAR) says the volume of cargo the company has moved in the first half of 2017 has surpassed the volumes moved in the last 10 years.

CEAR Public Relations Officer, Chisomo Mwamadi disclosed this in a questionnaire response attributing the trend to the improvements and investments the company has made in locomotives, wagons, rail track and systems.

“During the first half of the year, we managed to transport 60 percent of our budgeted cargo volume for the period.

“However, compared to the same period last year, we have moved 60 percent more cargo in 2017 as compared to 2016."



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Malawi’s sugar exports to United States increase — Ambassador Palmer | Malawi Nyasa Times - Malawi breaking news in Malawi

Malawi’s sugar exports to United States increase — Ambassador Palmer | Malawi Nyasa Times - Malawi breaking news in Malawi: "“Malawi exported $10.7 million worth of sugar to the United States in 2016, an increase of 25% from 2015.  This quota increase for fiscal year 2017 could mean an additional $4 million worth of Malawian sugar exports to the United States.  The United States remains committed to increasing trade between the United States and Malawi,” said Ambassador Palmer."



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World Bank Yet To Release Aid To Malawi

World Bank Yet To Release Aid To Malawi: "he World Bank has not released the $80 Million support which it approved for the Malawi Government, the Reserve Bank of Malawi confirms.

The Breton Wood organisation approved the amount as budgetary support to Malawi almost two years after direct budgetary support was suspended.

During the presentation of the 2017/2018 National Budget, the Finance Minister Goodall Gondwe hinted that the funds would go towards the settlement of government arrear"



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Tea prices surge in June | The Times Group

Tea prices surge in June | The Times Group:



Malawi's tea prices surged by 26.8 percent in June 2017 as compared to the same month last
year. The development has resulted in an increase in earnings from the beverage, the Reserve
Bank of Malawi (RBM) has said.
According to RBM's economic report for June 2017, tea prices averaged $1.89 per kilogramme in
June 2017 compared to $1.49 per kilogramme realised in June 2016.

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