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.
Disbursement of the money is expected to address Malawi’s urgent balance of payment needs.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
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