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IMF approves $88 million for Malawi

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The International Monetary Fund (IMF) Board has approved the disbursement of $88.3 million to Malawi under the Rapid Credit Facility.

Finance Minister Sosten Gwengwe confirmed the development Monday.

Last month, Malawi became the first low income country to reach a staff level agreement to receive the amount under the IMF’s new Food Shock Window.

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Disbursement of the money is expected to address Malawi’s urgent balance of payment needs.

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