IMF Suspends Malawi Loan Support Until After Elections

The International Monetary Fund (IMF) will no longer continue supporting the Government of Malawi through the Extended Credit Facility (ECF) due to challenges that have disrupted the loan program.

A statement released by the government indicates that both parties have agreed to put the program on hold for now, until a later time.

The statement explains that there were several challenges that made it difficult for the IMF to continue providing support aimed at stabilizing the country’s economy.

However, the statement expresses hope that the Government of Malawi will resume discussions with the IMF after the election period scheduled for September 16.

In 2023, President Lazarus Chakwera expressed optimism that the IMF’s support through a loan of 175 million US dollars would help improve the country’s economy.