Government has assured Malawians that it will follow what the International Monetary Fund (IMF) is advising it in a bid to restore the country’s economy.
Minister of finance and economic planning Goodall Gondwe said IMF advised government to reduce inflation and increase public finance reforms.
“Government is doing a lot in as far as the economy of the country is concerned at the moment we have reduced borrowing and we are controlling it,” said Gondwe.
Recently, the IMF resumed its support to Malawi after it was suspended last year due to cashgate issues.
Gondwe said it is a good development as IMF says Malawi has done a good job in reconciliation of account between Reserve Bank of Malawi and Accountant General.
He added that government will see to it that fiscal discipline is being practiced as this is the only way of eradicating poverty.
IMF has resumed its support and has pledged to give Malawi $150 million in an extended facility program.