IMF team to monitor financial performance

International Monetary Fund (IMF) representatives are visiting Malawi this week to analyse the country's financial performance in the last quarter of 2004.

The IMF team visited the country last November and said it was impressed with the economic performance of government, and especially its fight against corruption.

Malawi relies heavily on balance of payments support from donors, which accounts for up to 80 percent of the country's development budget. Other donors have indicated that their assistance would depend on IMF recommendations.

Christopher Wraight, the British Deputy High Commissioner to Malawi, said, "Recommendations by the IMF are important to the donors, but this does not mean that all the support we have given Malawi is based on [them]."

Secretary to the Treasury Milton Kuntengule told the local press that the IMF team, which arrives on Tuesday, would be in the country for two weeks.

The IMF and other donors suspended financial support to Malawi some three years ago when the former government failed to meet spending targets and bring corruption under control.


This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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