{"id":30423,"date":"2022-09-01T20:59:17","date_gmt":"2022-09-01T20:59:17","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/world-bank-tips-malawi-on-recovery"},"modified":"2022-09-01T22:09:36","modified_gmt":"2022-09-01T22:09:36","slug":"world-bank-tips-malawi-on-recovery","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/world-bank-tips-malawi-on-recovery","title":{"rendered":"World Bank tips Malawi on recovery"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Malawi. <\/strong><\/span>The World Bank has urged Malawi to consolidate effort towards addressing challenges facing the economy to hasten the recovery from effects of the Covid pandemic and global supply chain disruptions. The advice is contained in the July 2022 Bridgepath Capital Limited Economic Report.<\/p>\n<p>The Britton Woods\u2019 institution, as quoted by the portfolio management and advisory firm, recommends hastened sealing of pressure points in the fiscal space and continued prudence in public financial management, among other things.<\/p>\n<p>According to the report, areas requiring quick attention include restoring macroeconomic stability through a coordinated package of reforms, enhancing competitiveness and market-oriented growth, and protecting the poor and strengthening resilience.<\/p>\n<p>The bank says the reforms should encompass fiscal consolidation, debt workout, and institutionalisation of a flexible and well supported exchange rate regime.<\/p>\n<p>The World Bank also recommends improved governance and increased competitiveness of Malawi\u2019s exporters, focusing on agricultural commercialisation and productivity growth<\/p>\n<p>\u201cSocial protection programmes must be reinforced to prevent deterioration in consumption and welfare,\u201d the World Bank suggests.<\/p>\n<p>In an interview yesterday, Minister of Finance Sosten Gwengwe said the government was already working on the challenges in coordination with development partners including the World Bank and the International Monetary Fund.<\/p>\n<p>He, however, said the country still needs direct financial support if it is to hasten the recovery process. \u201cMalawi needs serious Balance of Payment support to stabilise the macro economy and it can only come from non-debt creating instruments and that is where the World Bank and the IMF are crucial,\u201d he said.<\/p>\n<p>The Malawi economy has faced many challenges emanating from exogenous shocks and historic problems. In 2020 the economy grew by a meagre 0.9 percent, but peaked up slightly to 2.8 percent in 2021.<\/p>\n<p>The year, the government projected a 4.1 percent growth rate which was recently revised downward to 1.7 percent. 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. The World Bank has urged Malawi to consolidate effort towards addressing challenges facing the economy to hasten the recovery from effects of the Covid pandemic and global supply chain disruptions. The advice is contained in the July 2022 Bridgepath Capital Limited Economic Report. The Britton Woods\u2019 institution, as quoted by the portfolio [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":30422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[233,371,3001,234,1027,537],"class_list":["post-30423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-malawi","tag-covid-pandemic","tag-malawi","tag-sosten-gwengwe","tag-world-bank"],"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>World Bank tips Malawi on recovery - Malawi<\/title>\n<meta name=\"description\" content=\"The World Bank has urged Malawi to consolidate effort towards addressing challenges facing the economy to hasten the rec ...\" \/>\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\/world-bank-tips-malawi-on-recovery\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank tips Malawi on recovery\" \/>\n<meta property=\"og:description\" content=\"The World Bank has urged Malawi to consolidate effort towards addressing challenges facing the economy to hasten the rec ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/world-bank-tips-malawi-on-recovery\" \/>\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=\"2022-09-01T20:59:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-01T22:09:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/09\/postQueueImg_2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"669\" \/>\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\/world-bank-tips-malawi-on-recovery#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/world-bank-tips-malawi-on-recovery\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"World Bank tips Malawi on recovery\",\"datePublished\":\"2022-09-01T20:59:17+00:00\",\"dateModified\":\"2022-09-01T22:09:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/world-bank-tips-malawi-on-recovery\"},\"wordCount\":344,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/world-bank-tips-malawi-on-recovery#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/09\/postQueueImg_2.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Covid pandemic\",\"Malawi\",\"Sosten Gwengwe\",\"world bank\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/world-bank-tips-malawi-on-recovery#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/world-bank-tips-malawi-on-recovery\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/world-bank-tips-malawi-on-recovery\",\"name\":\"World Bank tips Malawi on recovery - 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