From Nyasa Times

President Joyce Banda has welcomed the  statement of the International Monetary Fund (IMF) after a conclusion of a two-week mission in Malawi to conduct discussions for the third and fourth reviews under the Malawi’s Extended Credit Facility (ECF).

IMF expressed their satisfaction with the work being undertaken in Malawi to improve the economic and social environment of the country.

In a statement issued upon completion of discussions in Malawi, the IMF team leader Tsidi Tsikata hailed the policy reforms initiated by President Banda since her election in 2012, including the introduction of a flexible exchange rate that has made foreign currency readily available and the work the Reserve Bank of Malawi is doing to “tighten monetary policy.”

Tsikata also recognised the positive work done by the Banda administration in eliminating costly fuel subsidies, increasing international foreign exchange reserves and stimulating broad-based expansion in economic activity.

The IMF also noted areas needing further reform in Malawi, many of which President Banda’s government is already working to improve.

Read more at Nyasa Times