IMF IMPRESSED WITH DR JOYCE BANDA’s HANDLING OF THE ECONOMY AND HINTS BUDGET SUPPORT TO RESUME EARLIER THAN MARCH 2014

By Tabitha Silungwe and Ethel Gunde 16/12/2013

The International Monetary Fund has expressed satisfaction with Malawi government under the leadership of Dr Joyce Banda on how they have handled the economy in the past three months signalling that the tight controls through the Integrated Finacial Management Information Systems spearheaded by Malawi President and her team is now working and the economy is back on track.
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“We are very impressed with how the government implemented the Finacial control systems to prevent further looting and we can confirm that we have given a green light for aid to resume in due course. We have been following every step introduced by the Malawi government and its leader Dr Joyce Banda and we are satisfied that significant progress has been made as there is more transparency and accountability in the financial system.” Said the IMF Statement available to Banthu Times.

Malawi is scheduled to a fourth review of the Extended Credit Facility program in January 2014 in which IMF is very optimistic that there will be a recommendation for budget support to resume because of the ” positive steps taken by Malawi government to address the Cash gate issue.”

Dr Joyce Banda is the first president of Malawi to declare zero tolerance on corruption in contrast to her predecessor Bingu Wa Muntharika who shielded his younger brother Peter Muntharika from corruption investigation after he bought Malawi Housing Houses at 93% discount dubiously.