Minister of Finance, Economic Planning and Development, Joseph Mwanamvekha, on Friday held a series of high-level meetings with officials from the International Monetary Fund (IMF) and the United States Government in Washington, D.C., as part of efforts to strengthen Malawi’s economic recovery and reform agenda.
The meetings took place on the sidelines of the IMF and World Bank Group Annual Meetings, where global finance leaders are discussing economic stability and development priorities.
Mwanamvekha first met Abebe Selassie, Director of the IMF’s African Department, where discussions focused on Malawi’s macroeconomic outlook, including debt sustainability, inflation control, fiscal deficit reduction, and economic growth.
Selassie sought to understand the Government’s reform priorities and commitment to maintaining sound macroeconomic management. In response, Mwanamvekha reaffirmed President Arthur Peter Mutharika’s commitment to fiscal discipline and stability.
He said: “Government has already started implementing measures aimed at cutting unnecessary external and internal travel, promoting virtual meetings, and advancing talks with development partners to restructure debt and ease fiscal pressures.”
Later, the Malawi delegation met Eric Meyer, Deputy Assistant Secretary for Africa and the Middle East at the U.S. Department of the Treasury, who reaffirmed Washington’s support for Malawi despite current global economic headwinds.
Meyer acknowledged the impact of post-USAID funding cuts, particularly in the health sector, but expressed optimism about the revival of U.S. development programmes. He said discussions are underway with the Global Health team to explore renewed support for Malawi’s fight against HIV and AIDS, tuberculosis, and related diseases.
He further advised the Malawi Government to maintain close engagement with the IMF on debt management and sustainability, describing it as key to unlocking investment and development opportunities. Meyer also noted the untapped potential in Malawi’s mining sector, saying that while many investors have shown interest, progress has been hampered by inconsistent regulations and persistent energy challenges.
In response, Mwanamvekha thanked the U.S. Government for its continued partnership and reaffirmed Malawi’s readiness to work closely with the IMF and other partners.
He said the government is implementing reforms designed to make Malawi an attractive investment destination, particularly in the mining and other productive sectors, through regulatory reforms and improvements to the business environment.
The Government of Malawi, under the Mutharika-led administration, is currently pursuing a series of economic reforms aimed at restoring fiscal stability and stimulating growth amid rising inflation, debt pressures, and foreign exchange shortages.
The country’s participation in the 2025 IMF and World Bank annual meetings is seen as a critical step toward re-engaging development partners, mobilizing investment, and rebuilding confidence in its macro-economic management.
