{"id":35770,"date":"2022-11-29T01:44:39","date_gmt":"2022-11-29T01:44:39","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-world-bank-could-resume-budget-support"},"modified":"2022-11-29T02:24:11","modified_gmt":"2022-11-29T02:24:11","slug":"eu-world-bank-could-resume-budget-support","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-world-bank-could-resume-budget-support","title":{"rendered":"\u2018EU, World Bank could resume budget support\u2019"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>Minister of Finance Sosten Gwengwe has said the European Union and the World Bank are among Malawi\u2019s development partners who have expressed intent to resume direct budget support.<\/p>\n

Gwengwe said this in Parliament last week, saying the country is on the right path towards economic recovery and prudent use of resources sourced locally and from donors.<\/p>\n

He said an EU delegation is this week visiting Malawi to assess the country\u2019s readiness for direct budget support while the World Bank is waiting on IMF\u2019s confidence by granting Malawi an Extended Credit Facility to also resume direct budget support.<\/p>\n

\u201cIf we are able to pull this off, one thing that we have to deliver is prudent financial management and it starts with our budget. Therefore, blowing the budget especially on the Affordable Inputs Programme may not be the right thing to do,\u201d he said.<\/p>\n

Centre for Social Accountability and Transparency Executive Director Willy Kambwandira said the news is exciting to every Malawian. He, however, said that the current fight against corruption and unnecessary use of resources leaves a lot to be desired.<\/p>\n

\u201cThere is a need to put in place serious measures that will show that the government is accountable and transparent because it does not make sense to have an acting Auditor General for two years for a government which is serious about checks and balances,\u201d he said.<\/p>\n

In an interview last week, an economics lecturer at the University of Malawi Innocent Makuta said the current regime has not shown commitment to prudently use resources. He cited austerity measures that were announced by the government but were not genuinely followed, especially by senior government officials.<\/p>\n

In 2013, donors under the then Common Approach to Budget Support suspended direct budget funding to Malawi following the cash gate in which billions of Kwacha were squandered from the public purse by government officials who connived with businesspersons and politicians.<\/p>\n

The donors instead resorted to helping Malawi through organisations or direct projects run by the donors with their direct involvement in a bid to ensure prudent use of the resources.<\/p>\n

The freezing of the direct donor aid hit the country\u2019s sectors hard as Malawi cannot finance the deficit on its own. The country has for many years been implementing national budgets with a glaring deficit financed by borrowed money.<\/p>\n

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

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

Africa-Press – Malawi. Minister of Finance Sosten Gwengwe has said the European Union and the World Bank are among Malawi\u2019s development partners who have expressed intent to resume direct budget support. Gwengwe said this in Parliament last week, saying the country is on the right path towards economic recovery and prudent use of resources sourced […]<\/p>\n","protected":false},"author":84,"featured_media":35769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,410],"tags":[233,371,5499,234,537],"class_list":["post-35770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-to-homepage","tag-africa-press","tag-africa-press-malawi","tag-budget-support","tag-malawi","tag-world-bank"],"yoast_head":"\n\u2018EU, World Bank could resume budget support\u2019 - Malawi<\/title>\n<meta name=\"description\" content=\"Minister of Finance Sosten Gwengwe has said the European Union and the World Bank are among Malawi\u2019s development partner ...\" \/>\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\/eu-world-bank-could-resume-budget-support\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018EU, World Bank could resume budget support\u2019\" \/>\n<meta property=\"og:description\" content=\"Minister of Finance Sosten Gwengwe has said the European Union and the World Bank are among Malawi\u2019s development partner ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-world-bank-could-resume-budget-support\" \/>\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=\"2022-11-29T01:44:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-29T02:24:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/11\/postQueueImg_1669673703.87.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1053\" \/>\n\t<meta property=\"og:image:height\" content=\"679\" \/>\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\/eu-world-bank-could-resume-budget-support#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-world-bank-could-resume-budget-support\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"\u2018EU, World Bank could resume budget support\u2019\",\"datePublished\":\"2022-11-29T01:44:39+00:00\",\"dateModified\":\"2022-11-29T02:24:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-world-bank-could-resume-budget-support\"},\"wordCount\":437,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-world-bank-could-resume-budget-support#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/11\/postQueueImg_1669673703.87.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Budget support\",\"Malawi\",\"world bank\"],\"articleSection\":[\"all news\",\"economy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-world-bank-could-resume-budget-support#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-world-bank-could-resume-budget-support\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-world-bank-could-resume-budget-support\",\"name\":\"\u2018EU, World Bank could resume budget support\u2019 - 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