{"id":35074,"date":"2022-11-17T22:01:53","date_gmt":"2022-11-17T22:01:53","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise"},"modified":"2022-11-17T22:50:40","modified_gmt":"2022-11-17T22:50:40","slug":"malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise","title":{"rendered":"Malawi\u2019s Rapid credit Facility is temporal relief on forex shortage, no unnecessarily noise"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>This week International Monetary Fund (IMF) agreed with President Lazarus Chakwera\u2019s Tonse Alliance government for a US$88.3 million Rapid Credit Facility (RCF), ahead of Board\u2019s approval: Good news for Malawi? Yes and No!<\/p>\n

It\u2019s good news because we badly need the forex. It\u2019s bad news because this, the RCF, confirms we, currently, can\u2019t afford the Extended Credit Facility (ECF). That\u2019s a bad image to the foreign creditors. It\u2019s like taking your child to hospital with expectation that she\u2019ll be treated as an out-patient, only to be admitted in the ICU.<\/p>\n

What is the Rapid Credit Facility?<\/b><\/p>\n

This facility provides emergency forex support to poor countries in the event that they are too weak to afford the Extended Credit Facility. This actually confirms what government disputed about Malawi being \u2018too broke\u2019 for an ECF program.<\/p>\n

Worse still, the IMF had to use a more suitable window for our frailty \u2013 the Food Shock Window \u2013 which is only open until September 2023 for countries experiencing acute food insecurity and high food import bills mainly owing to the Russia \u2013 Ukraine war and COVID-19.<\/p>\n

Malawi is actually the first country to need\/receive this support. Good news? I can\u2019t say it is. Moving forward. Now that the IMF says we cannot afford the ECF, we have applied for the Program Monitoring with Board Involvement (PMB).<\/p>\n

This is like telling wakatapila that \u201cchabwino ngati mukundikaikira tipita limodzi ku nsika kuti mutsimikize ngongoleyi ndiyogulira chakudya.\u201d Isn\u2019t that embarrassing? It\u2019s sad we can actually run down this country this worse. So, the noisy about RCF is unnecessary!<\/p>\n

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

Africa-Press – Malawi. This week International Monetary Fund (IMF) agreed with President Lazarus Chakwera\u2019s Tonse Alliance government for a US$88.3 million Rapid Credit Facility (RCF), ahead of Board\u2019s approval: Good news for Malawi? Yes and No! It\u2019s good news because we badly need the forex. It\u2019s bad news because this, the RCF, confirms we, currently, […]<\/p>\n","protected":false},"author":84,"featured_media":35073,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[233,371,234],"class_list":["post-35074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nMalawi\u2019s Rapid credit Facility is temporal relief on forex shortage, no unnecessarily noise - Malawi<\/title>\n<meta name=\"description\" content=\"This week International Monetary Fund (IMF) agreed with President Lazarus Chakwera\u2019s Tonse Alliance government for a US$ ...\" \/>\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\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malawi\u2019s Rapid credit Facility is temporal relief on forex shortage, no unnecessarily noise\" \/>\n<meta property=\"og:description\" content=\"This week International Monetary Fund (IMF) agreed with President Lazarus Chakwera\u2019s Tonse Alliance government for a US$ ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise\" \/>\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=\"2022-11-17T22:01:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-17T22:50:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/11\/postQueueImg_1668709964.02.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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=\"1 minute\" \/>\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\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Malawi\u2019s Rapid credit Facility is temporal relief on forex shortage, no unnecessarily noise\",\"datePublished\":\"2022-11-17T22:01:53+00:00\",\"dateModified\":\"2022-11-17T22:50:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise\"},\"wordCount\":295,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/11\/postQueueImg_1668709964.02.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawis-rapid-credit-facility-is-temporal-relief-on-forex-shortage-no-unnecessarily-noise\",\"name\":\"Malawi\u2019s Rapid credit Facility is temporal relief on forex shortage, no unnecessarily noise - 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