{"id":31760,"date":"2022-09-19T16:14:17","date_gmt":"2022-09-19T16:14:17","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/imf-dumps-malawi"},"modified":"2022-09-19T17:16:32","modified_gmt":"2022-09-19T17:16:32","slug":"imf-dumps-malawi","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/imf-dumps-malawi","title":{"rendered":"IMF dumps Malawi"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>International Monetary Fund (IMF) managing director Kristalina Georgieva says debt unsustainability makes the IMF\u2019s entry into Malawi more difficult. The IMF has since halted talks with Malawi on the new Extended Credit Facility (ECF) over concerns about the country\u2019s public debt which is at K5.8 trillion.<\/p>\n

Speaking in an interview with CNBC-TV18 in India recently, Georgieva noted that Malawi has no food and no fuel but it is difficult for IMF to intervene because the country\u2019s debt is unsustainable.<\/p>\n

She then urged countries like China and the private sector to provide debt relief to low income countries so that the IMF can help such countries. Malawi wants to secure a new ECF with IMF but, according to IMF Country Manager in Malawi Farayi Gwenhamo, the talks have been suspended.<\/p>\n

\u201cWe had some discussions, online, last week and we were supposed to continue this week with the in-person part of the mission. But now this is on hold. We had to reach a resolution around the debt sustainability issues,\u201d Gwenhamo told Daily Times Newspaper. However, Minister of Finance Sosten Gwengwe said it is government which is yet to confirm the IMF mission to Malawi.<\/p>\n

\u201cThere is no point in having an IMF mission if they cannot accept a debt treatment that does not require the default element. There is a stand-off on this matter this far. We are continuing to engage in more donor inflows to lessen the debt treatment,\u201d Gwengwe said.<\/p>\n

Malawi\u2019s economic situation has worsened this year amid a shortage of forex which has affected the importation of fuel. A sharp rise in prices of food and other necessities and low income levels have also left many Malawians suffering under the leadership of President Lazarus Chakwera.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. International Monetary Fund (IMF) managing director Kristalina Georgieva says debt unsustainability makes the IMF\u2019s entry into Malawi more difficult. The IMF has since halted talks with Malawi on the new Extended Credit Facility (ECF) over concerns about the country\u2019s public debt which is at K5.8 trillion. Speaking in an interview with CNBC-TV18 […]<\/p>\n","protected":false},"author":84,"featured_media":31759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[233,371,307,1822,234,3145],"class_list":["post-31760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-malawi","tag-economy","tag-imf","tag-malawi","tag-money"],"yoast_head":"\nIMF dumps Malawi - Malawi<\/title>\n<meta name=\"description\" content=\"International Monetary Fund (IMF) managing director Kristalina Georgieva says debt unsustainability makes the IMF\u2019s entr ...\" \/>\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\/imf-dumps-malawi\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF dumps Malawi\" \/>\n<meta property=\"og:description\" content=\"International Monetary Fund (IMF) managing director Kristalina Georgieva says debt unsustainability makes the IMF\u2019s entr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/imf-dumps-malawi\" \/>\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=\"2022-09-19T16:14:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-19T17:16:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/09\/postQueueImg_5-6328a37d6aa92.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1556\" \/>\n\t<meta property=\"og:image:height\" content=\"1103\" \/>\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\/imf-dumps-malawi#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/imf-dumps-malawi\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"IMF dumps Malawi\",\"datePublished\":\"2022-09-19T16:14:17+00:00\",\"dateModified\":\"2022-09-19T17:16:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/imf-dumps-malawi\"},\"wordCount\":306,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/imf-dumps-malawi#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/09\/postQueueImg_5-6328a37d6aa92.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"economy\",\"IMF\",\"Malawi\",\"money\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/imf-dumps-malawi#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/imf-dumps-malawi\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/imf-dumps-malawi\",\"name\":\"IMF dumps Malawi - 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