Malawi: IMF roots for weaker Malawi currency

The International Monetary Fund has advised Malawi to further devalue currency and liberalise foreign exchange if it hoped to benefit from Extended Credit Facility (ECF) programme. IMF, mid this year, declared Malawi’s ECF programme off-track, leading to most donors withholding their budgetary support to the country. Malawi minister of finance Ken Lipenga last week led a government delegation to meet IMF officials in Washington DC, to discuss resumption of talks on the suspended ECF.