By Wezzie Gausi:
An International Monetary Fund (IMF) delegation has arrived in the country to monitor progress of the Extended Credit Facility (ECF) Programme, IMF Country Representative Nelnan Koumtingue has confirmed.
The team will be meeting officials from the Treasury and Reserve Bank of Malawi, among others.
Koumtingue told The Daily Times that the delegation is in the country, where it is conducting a staff visit.
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He said this is part of their routine engagement with Malawi and aims at taking stock of recent macroeconomic developments in the country.
“Indeed, I can confirm that a team has arrived in the country. The staff visits last for about a week. We will issue a press release at the end of the visit on how the visit has panned out,” Koumtingue said.
Secretary to the Treasury Betchani Tchereni also confirmed the development.
He said the main goal of the team is to monitor progress of ECF and observe issues that may rise.
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“This mission will help the authorities to identify the areas where they need to do more and still be within the targets of the programme.
“We, as a ministry, are always ready for such missions, not only for the sake of the programme but also because it is good for the general economic management of our country,” Tchereni said.
The staff visit will span from January 22 to 26.
The ECF arrangement aims to support government’s commitment to restore macroeconomic stability, build a foundation for inclusive and sustainable growth, including strengthening resilience to climate-related shocks and addressing weaknesses in governance and institutions.
