IMF team in for ECF review conclusion
The International Monetary Fund (IMF) mission led by Oral Williams is in the country to conclude discussions of the fifth and sixth reviews under the three-year Extended Credit Facility (ECF), which the Malawi Government has with the fund.
Ministry of Finance spokesperson Nations Msowoya said in an interview their visit, from December 10 to 17 December 2014, is the continuation of the mission which came in November and failed to conclude discussions with government due to outstanding issues on public finance management reforms.
“Last time when the mission was in the country, we failed to conclude discussions because we needed more time to finalise the public finance management programme which we have now done,” he said.
Msowoya said government will discuss with the team the progress so far made and future plans that have been put in place as regards public finance management.
“We will also update them on the reforms taking place in the civil service, including the streamlining of the parastatal and various government institutions,” he said.
According to the programme, the team on Wednesday discussed with government officials quarterly fiscal targets for end December 2014 and yesterday discussions centred on public financial management reforms and national accounts.
Today’s’ discussions, according to the programme, will concentrate on financial stability issues and the Farm Input Subsidy Programme (Fisp) and the team will also deliver drafts of macroeconomic framework tables, quantitative targets to RBM.
