kwacha mwnnLILONGWE (Malawi NewsNow ) —  Malawi’s public debt amounting to MK515 billion (US$1.3 billion)is undergoing scrutiny to find options to manage it and reschedule payments..

The audit follows concerns by the International Monetary Fund (IMF) whose March 2015 Public Debt Analysis for the country found that public and publicly guaranteed gross debt moved from 57 per cent of Gross Domestic Product (GDP) in 2012 to 76 per cent of GDP in 2014.

National Audit Office (NAO) Corporate Communications Officer Mr Lawrence Chinkhunda said the audit would help government to work on fiscal measures in managing the economy.

Chinkhunda said the nature of the audit of public debt was to provide assurance to government on the status of public debt and whether the conditions of the debt are being complied with.

According to him, the audit was normal and part of the programmed audits to be conducted by the Auditor General under the Public Audit Act.