LILONGWE (Malawi NewsNow) –International Monetary Fund (IMF) mission team is expected into the country within the first quarter of 2016 to review economic trends and evaluate its performance in line with the Extended Credit Facility (ECF) programme.
The team will determine Malawi’s fate on whether to resume the US$150 million ECF programme which was declared off-track in September following the government’s failure to meet the agreed targets.
IMF resident representative to Malawi, Godfrey Oestreicher said the team will review the targets under ECF and examine the revised National Budget among others.
“The coming of the team will examine the economic trends and evaluate the ECF programs to determine if Malawi is back on track or not,” he said.
The team will also review major economic indicators such as inflation, reviewing government’s cash books to determine the correlation between the budget and the expenses by government, he added.
The envoy expressed optimism that the country’s program under the fund will get back on track.