Mutharika’s Govt Gets Green Light From IMF: Malawi Economy On Track
Malawi President Prof. Arthur Peter Mutharika has all reasons to smile and give hope to millions of Malawians with the International Monetary Fund (IMF) declaration that Malawi is on track as far as reclaiming the economy is concerned.
On Wednesday, the IMF Head of Mission Williams addressed a news conference in Lilongwe which was graced by Finance Minister Goodall Gondwe , government officials and central bank governor Charles Chuka where the good news was broken.
Former Joyce Banda’s government cash gate scandal and drought had for the past three years affected Malawi’s economy but the economic outlook is now improving .
“Real Growth Domestic Product (GDP) growth after two consecutive years of drought fell below three per cent in 2016 but is expected to pick up in the range of four to five per cent in 2017 while the annual inflation has now fallen to 16.1 per cent as of February 2017.” Said Williams.
IMF Chief commended the government of Malawi for the tight monetary policy which kept short term money market rates positive in real terms and stronger fiscal management.
On behalf of Malawi Government,Minister of Finance, Economic Planning and Development Goodall Gondwe concurred with the IMF mission Chief saying the economy of the country has renounced and there is room for further improvements.
President Peter Mutharika repeatedly told Malawians that his government is not resting and they are doing all they can to rescue this country which was almost on the verge of collapsing three years ago.