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Top related persons:
Sosten Gwengwe - 1 Kevin Wolf - 1 Banda - 1 Lazarus Chakwera - 1 Chakwera - 1 Frank Phiri - 1 Anait Miridzhanian - 1 David Gregorio - 1
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Washington , DC Rights BLANTYRE Malawi
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Finance - 1 Economic Affairs - 1 State Department - 1 Rights - 1 Monetary Fund's - 1 Malawian - 1 Simplex - 1 IMF - 1

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2 mentions found


☆ IMF board approves $178 mln loan to Malawi
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +2 min
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
☆ Malawi close to sealing $54 mln IMF emergency funding for economic shock
  + stars: | 2022-10-18 | by ( Frank Phiri | ) www.reuters.com   time to read: +2 min
Malawi, which is experiencing chaotic queues at fuel stations that are running dry due to a lack of foreign currency, would be the first African country to receive special IMF emergency financing to deal with the global inflation crisis. Ukraine received $1.3 billion under the same new programme, known as the "Food Shock Window", earlier this month. The IMF said last week it had discussed Malawi's request for support under the emergency programme and that the board would consider it "as soon as possible". The Food Shock Window was launched at the end of last month to help countries with balance of payments problems. Half of Malawi's IMF quota is equivalent to about $54.4 million at current exchange rates on the fund's website, and would be the maximum it can request for this emergency financing.
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