“IMF’s verdict on you doesn’t bother us,” says donors under CABS.

Date:

Malawi’s donors under the Common Approach to Budgetary Support (CABS) have indicated that they are not yet willing to lift the suspension they placed on the nation over the Cashgate scandal.

The donors suspended their U$ 150 million budgetary aid due to the scandal. However, just when the nation was starting to believe that the donors have started softening their heart in their approach towards Malawi, the donors have come out in the open to declare that for them, the issue is not yet over.

Last week, the International Monetary Fund (IMF) released U$ 20 million for Malawi to borrow after a review of an earlier punishment they had made to the nation of not releasing their funds to Malawi over the same Cashgate scandal. IMF had received a forensic report audit into the scandal which had most likely affected their position.

However, the donors under CABS have disclosed that IMF’s stand does not move them an inch and they still are stuck to their guns and will only release their funds once they are sure of a financial prudence in place.

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