(Ecofin Agency) - Malawi will be provided a new tranche of $15.4 million by the International Monetary Fund (IMF), a release published by the institution on Wednesday 22, November 2018, informed.
As part of a $108.2 million extended credit facility granted to the country in April 2018, the new tranche should help Malawi continue the macroeconomic stabilization as well as stronger, more inclusive and more resilient growth reforms.
"Malawi’s program performance has been satisfactory. Program-supported structural reforms advanced and most performance criteria were met, with significant overperformance in international reserves and reduction in the Reserve Bank of Malawi (RBM) holdings of government securities", said M. Tao Zhang (photo), IMF’s deputy managing director.
"Economic growth, currently barely above population growth, is expected to gradually improve over the medium-term with continued macroeconomic stability and ongoing structural reforms", the managing director added.
Let’s note that the new tranche included, the volume of fundings provided to Malawi in the framework of the extended credit facility is $30.9 million.
Moutiou Adjibi Nourou