IMF Completes First Review of Malawi’s ECF Arrangement and Approves US$ 15.4 Million Expenditure

IMF Executive Board Completes First Review of Malawi’s ECF Arrangement and Approves US$ 15.4 Million Expenditure.

Completion of the review enables Malawi to draw the equivalent of SDR11.15 million (about US$ 15.4 million).

Advancing structural reforms and improving governance and transparency will be critical to attaining strengthened economic outcomes.

The authorities’ ECF-supported program aims to entrench macroeconomic stability and to foster higher, more inclusive, and resilient growth.

The Executive Board of the International Monetary Fund (IMF), On Wednesday, IMF  completed the first review of Malawi’s performance under its program supported by a three-year arrangement under the Extended Credit Facility (ECF).

Completion of the review enables Malawi to draw the equivalent of SDR11.15 million, (about US$ 15.4 million), bringing total disbursements under the arrangement to SDR22.3 million (about US$ 30.9million).

According to the statement by IMF acting chairperson Tao Zhang, Malawi’s performance was satisfactory.