Finance Minister Joseph Mwanamveka has accused Leader of the Opposition Simplex Chithyola Banda of spreading misinformation and politicising Malawi’s ongoing engagement with the International Monetary Fund (IMF).
Mwanamveka made the remarks in Parliament on Wednesday as lawmakers reconvened following President Arthur Peter Mutharika’s official opening of the session last Friday.
Responding to Banda’s earlier demand that the government disclose details of its dealings with the IMF, Mwanamveka dismissed the opposition leader’s claims as “misleading” and intended to score political points.
He clarified that the IMF had not yet signed any agreement with the government, describing the current process as a preliminary “scoping mission” to assess Malawi’s economic situation.”What we are doing is a scoping mission. There’s no agreement,” Mwanamveka said. “The IMF team is here to understand the situation on the ground. From there, discussions will determine whether we proceed with an Extended Credit Facility (ECF) programme or a Staff-Monitored Programme, which would only serve as an interim measure.”
The minister stressed that the government would only enter into a programme that safeguards Malawi’s economic interests and benefits its citizens.
Mwanamveka further noted that previous agreements with international financial institutions had sometimes disadvantaged the country due to unfavourable terms.
He assured Parliament that the current administration would negotiate cautiously to avoid repeating past mistakes.
He also highlighted ongoing collaboration with the World Bank, saying it was already producing tangible benefits for Malawians.
Accusing the opposition of exploiting the IMF issue for political gain, Mwanamveka said Banda’s remarks were aimed at distracting the government from its economic recovery agenda.
Earlier, Banda had criticised the government for failing to outline a clear economic recovery strategy in the President’s State of the Nation Address (SONA), arguing that the speech lacked concrete measures to address Malawi’s deepening economic crisis.
“After analysing the SONA, we found many gaps,” Banda said. “There is nothing in it that provides Malawians with a clear economic recovery plan.”
Banda maintained that the opposition’s duty was to provide checks and balances, urging the government to handle economic matters transparently rather than hiding behind political rhetoric.
Following Banda’s remarks, Speaker of Parliament Sameer Suleman directed him to present evidence to support his claims regarding any agreement between the government and the IMF.
