Mw Recieves K76.47 Billion To Ease Covid-19 Effects

The International Monetary Fund (IMF) Executive Board on Friday approved a $101.96 million (about K76.47 billion) support package aimed at relieving Malawi from Balance of Payment and fiscal needs amidst Covid-19.

The funds arrive under the Rapid Credit Facility (RCF) as Treasury spokesperson, Williams Banda, has since said the funds will help the country achieve economic growth, as the sum will lessen pressure on the national budget.

The funds arrive under IMF’s Rapid Credit Facility (RCF) which approved $91 million package in May this year, followed by $101.96 million approved last Friday on 2 September.