By Wezzie Gausi:
Malawi is leveraging the International Monetary Fund (IMF) and World Bank Spring Meetings in Washington DC, the United States (US), to attract investment in mining and energy sectors focusing on job creation, economic growth and sustainable development.
The country’s delegation, led by Minister of Finance and Economic Affairs Simplex Chithyola Banda, departs for the US on Monday to participate in the high-level meetings.
Treasury spokesperson Williams Banda said the delegation would engage in bilateral discussions aimed at unlocking financing in critical sectors while promoting macroeconomic reforms.
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“These meetings are key in demonstrating Malawi’s readiness to collaborate with global stakeholders on issues of job creation, climate resilience and private sector engagement,” Banda said.
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In an interview, economist Velli Nyirongo commended the Treasury’s strategy, describing it as timely given the country’s economic realities and the global demand for green energy resources.
“If well managed, the mining sector alone could generate up to $30 billion in exports between 2026 and 2040, with annual earnings potentially reaching $3 billion by 2034. This could be transformative for Malawi’s economy— expanding fiscal space, boosting foreign exchange and easing debt pressures,” Nyirongo said.
However, he cautioned that Malawi’s economic fundamentals remained fragile, with projected growth at just 2 percent in 2025, high inflation, persistent fiscal deficits and foreign exchange shortages continuing to limit the country’s investment appeal.
Nyirongo urged the Malawi delegation to present a strong, data-backed investment case rooted in recent reforms and future plans, advising the government to emphasise transparency, environmental safeguards and governance in the extractives sector.
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The IMF Spring Meetings bring together global finance leaders to discuss strategies for economic development, job creation, climate change and the future of international financial cooperation.
