Malawian Finance and Economic Affairs Minister Sosten Gwengwe speaks at the State Department in Washington, DC, U.S., September 28, 2022.
Kevin Wolf/Pool via REUTERS/File Photo Acquire Licensing RightsBLANTYRE, Nov 15 (Reuters) - The International Monetary Fund's executive board has approved a loan of about $178 million for Malawi, with an immediate disbursement of about $35 million, the IMF said in a statement on Wednesday.
"The decision is a big breather for us and our economy," Finance Minister Simplex Chithyola Banda said in a telephone interview with Reuters.
The IMF programme will unlock more financial support from development partners, Malawian President Lazarus Chakwera said in a televised national address late on Wednesday.
The World Bank could give Malawi $60 million for trade finance, a $217 million package linked to fiscal reforms and $250 million for agriculture, Chakwera said.
Persons:
Sosten Gwengwe, Kevin Wolf, Banda, Lazarus Chakwera, Chakwera, Frank Phiri, Anait Miridzhanian, David Gregorio, Sandra Maler
Organizations:
Finance, Economic Affairs, State Department, Rights, Monetary Fund's, Malawian, Simplex, Reuters, IMF, Bank, Thomson
Locations:
Washington , DC, Rights BLANTYRE, Malawi