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IMF, Capital Hill in talks

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By MacDonald Thom: The International Monetary Fund (IMF) is this morning holding a press conference, after its team, led by Pritha Mitra, Mission Chief to Malawi, visited the country from September 25 to October 5.

The team was in the country to conduct discussions about the first review of the three-year arrangement for Malawi under Extended Credit Facility (ECF) for about $112.3 million.

“Malawi’s economy continues to grow while inflation remains on a declining trend. Moderate economic growth is likely to strengthen to about 4 per cent in 2019, followed by a rise to 6-7 per cent over the medium term. Growth will be backed by improved electricity generation, better irrigation infrastructure and cropping techniques, greater access to finance and improved business climate. Inflation is expected to reach 9.5 per cent at end 208 before gradually converging at around 5 per cent over the medium term,” Mitra said.

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On his part, Minister of Finance Economic, Planning and Development Goodall Gondwe said:

They have given us an advice on what we should do and we will do that. We will do better next time they come.

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