The International Monetary Fund (IMF) has promised the Malawi government of its continued support towards its effort of stabilising the economy.
The pledge was made on Tuesday by the visiting IMF Deputy Managing Director Gita Gopinath during a meeting with President Lazarus Mcarthy Chakwera at Kamuzi Palace.
According to a Press Release issued by the IMF Spokesperson after the meeting, the IMF has expressed its pleasure by the progress Malawi is making towards stabilising the economy hence its decision to continue supporting the efforts.
It reads: “IMF staff and management will continue to offer their strong support to the authorities efforts to stabilise the economy.”
The IMF has since commended the Malawi governmemt for working tirelessly to restore the country’s microeconomic stability.The IMF said are encouraged to see that there are improvements in the microeconomic reforms and adjustments.
Says the IMF deputy MD: “I commend the authorities’ efforts under the Staff Monitored Programmes with the Executive Board Involvement (PMB) to restore microeconomic stability which will set the stage for stronger durable growth and poverty reduction.”
Last month, the IMF indicated that the Malawi government is on the right track to qualify for another Extended Credit Facility (ECF). It is expected that the visit by the second top most boss of the Bretton Wood institution will boister Malawi’s chances of qualifying for the programme.