IMF Says It Will Restart Malawi Funding Discussions

Written by Ann Brown

Jul 12, 2014

The International Monetary Fund (IMF) said it will by October resume talks with the Malawian government on support under the Bretton Woods institution’s Extended Credit Facility (ECF).IMF resident representative in Malawi, Geoffrey Oestreicher told Daily Times that a team from the Fund, which was currently in the country, would, among other things, take stock of programme implementation under the ECF arrangement and prepare the ground for resumption of discussions later in the year.

“With such a timetable, it could be anticipated that a board discussion could take place before end-2014,” he said.

This means that the IMF would only be able to disburse the next tranche under the ECF loan by the end of the year or early 2015.

The IMF last released funding to Malawi in January 2013 when it loaned Malawi US$20 million following successful completion of the third and fourth reviews of the country’s economic performance under the program.