{"id":13764,"date":"2022-01-15T03:51:50","date_gmt":"2022-01-15T03:51:50","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling"},"modified":"2022-01-16T04:14:19","modified_gmt":"2022-01-16T04:14:19","slug":"debt-retirement-fund-ready-for-tabling","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling","title":{"rendered":"Debt retirement fund ready for tabling"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Malawi. <\/strong><\/span>Establishment of a debt retirement fund is at an advanced stage as authorities indicate that amendments to the Public Finance Management Act have been completed. Stakeholders say the amendments will be tabled during the February budget meeting of Parliament.<\/p>\n<p>\u201cEstablishment of the fund is in the Act; therefore, once the act is tabled, members of Parliament will also be deliberating on the fund,\u201d Ministry of Finance spokesperson Williams Banda said.<\/p>\n<p>He added that the fund would be financed by tax revenue and channeled towards either debt refinancing or debt payment. IM Swedish Southern Africa Regional Director Dalitso Kubalasa said the idea of having the fund is good and lauded government for taking it to Parliament for scrutiny.<\/p>\n<p>\u201cWe needed to have a full plan on this fund and it is encouraging that government has taken it to Parliament because it will be given the scrutiny it deserves so that we are in control of it,\u201d Kubalasa said.<\/p>\n<p>Development economist Felix Lombe said in a separate interview the fund would help the government have a clear plan of loan retirement that does not affect it\u2019s operations. He added that the only worry could be on whether the funds would be used for its intended purpose.<\/p>\n<p>\u201cThe main deliverable of the fund is refinancing or repayment of debt, which means income in, income out of the fund. It also means it will not be there to be managed but to manage debt,\u201d Lombe said.<\/p>\n<p>According to the Ministry of Finance, currently, Malawi\u2019s foreign and domestic debt totals K5.5 trillion, which is more than double the country\u2019s annual budget expenditure.<\/p>\n<p>Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk. He is however flexible as he also writes about current affairs and national issues.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/malawi\">Malawi<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Malawi. Establishment of a debt retirement fund is at an advanced stage as authorities indicate that amendments to the Public Finance Management Act have been completed. Stakeholders say the amendments will be tabled during the February budget meeting of Parliament. \u201cEstablishment of the fund is in the Act; therefore, once the act is [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":13763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,3823,3824,234,929],"class_list":["post-13764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-dalitso-kubalasa","tag-felix-lombe","tag-malawi","tag-malawi-parliament"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Debt retirement fund ready for tabling - Malawi<\/title>\n<meta name=\"description\" content=\"Establishment of a debt retirement fund is at an advanced stage as authorities indicate that amendments to the Public Fi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Debt retirement fund ready for tabling\" \/>\n<meta property=\"og:description\" content=\"Establishment of a debt retirement fund is at an advanced stage as authorities indicate that amendments to the Public Fi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-15T03:51:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-16T04:14:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/01\/img-61e39b7d6ee19.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Debt retirement fund ready for tabling\",\"datePublished\":\"2022-01-15T03:51:50+00:00\",\"dateModified\":\"2022-01-16T04:14:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling\"},\"wordCount\":319,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/01\/img-61e39b7d6ee19.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Dalitso Kubalasa\",\"Felix Lombe\",\"Malawi\",\"malawi parliament\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/debt-retirement-fund-ready-for-tabling\",\"name\":\"Debt retirement fund ready for tabling - 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