Mutharika scores high again: IMF gives Malawi K55 billion

Jun 21, 2016 Politics 213
Advertisement
Goodall Gondwe and Peter Mutharika

…extends loan facility

The International Monetary Fund (IMF) says it will immediately give Malawi US$76.8 Million (about K54.5 billion) to be used in addressing effects of the drought which hit the country in the 2015/16 growing season.

The Bretton Woods institution has also extended Malawi’s Extended Credit Facility (ECF) arrangement to December this year, a move which will see the country getting a loan of US$49.2 million (K34.9 billion).

Goodall Gondwe and Peter Mutharika
We have made it. Finance Minister Goodall Gondwe seems as saying to President Peter Mutharika. (Library).

In a statement on Monday, the global lender said the extension would give Malawi more time to achieve the original objectives of the programme while the additional financing will help to strengthen the country’s response to the El Niño induced drought which has caused a humanitarian crisis.

IMF Deputy Managing Director Min Zhu said the institution has approved the additional funds because Malawi government has shown commitment to implement reforms and has strengthened the country’s macroeconomic policies.

Min also tipped government on how the country can bring back donors and prevent plunder of public resources.

“Accelerating the implementation of public financial management reforms is indispensable to building trust and confidence in the budget process and ensuring control over fiscal operations. Strong commitment controls, routine bank reconciliations, and regular fiscal reporting remain critical to preventing potential misappropriation of public funds and reviving donor re-engagement.

“The pursuit of prudent fiscal policy is critical to safeguarding medium-term fiscal and debt sustainability. Improved revenue mobilization and expenditure efficiency will reduce aid dependency and create fiscal space for social spending in pursuit of Malawi’s sustainable development goals,” said Min.

The IMF suspended the credit facility arrangement in 2015 following the massive looting of billions of Kwacha from state coffers.  But in March this year the global lender announced it would resume programme.

Advertisement

213 Comments

  3. Dzuka Malawi dzuka,, let’s talk about how we can develop osati ndale pa china chilichonse. Ngongole ndi last resort zikavutitsitsa. Clever people make others pay back their ngongole through profits they make. What about mother Malawi??? We eat ngongole, no profit only to exhaust meagre resources into the hands of our fathers in rich countries.,,,,,,, Am talking development here!!!! Can we move out of poverty trap????

  5. We realy sick and tired of you so called dirty politicians, you are getting ritcher n ritcher in the name of poor people, you must go to hell

  6. Even kamuzu left us with. A lot of ngongole. If you don’t likev loans. Come up with plans. Longani tipive.

  7. Some more bags for you guys to steal and to pump your stomachs to get bigger n bigger in the name of poor people, am quiet sure and hope that you will use that money to fill all ADMARC the whole country so that all Malawians will be able to buy maize easily, infact we dont want you thiefs to give us maize that you name it for free but if you can just buy enough maize to fill our ADMARCS in the whole country then we will appreciate but if not that and if you ignore and still that money and put in your pocket then you all of you will go to hell and will have 20 years bad luck.

  8. please ululate only when you have seen the written script behind this deal. there is no way the IMF can give out such sums without conditions. and i suspect one of them could be the freezing of salary increments this year for public servants.

  10. Am gettting suspicious and lemme ask, the loanz that u do get, wat do u pay back with? Mumabwenza ndi chani? Coz we kno the Govt lacks money even to pay mere civil servants,so mumabwenza ndi chani mukakongola?.
    It doesnt go for free, u exchange.

  15. Asamanamizire kuti wachitabwino….alubino akusowawa si anthu ake ndomweo…nzipatalamu anthu akumasowa amapita kuti….munthu akuchotsedwa ziwalo kumakanjira…koma kumalindi muli roadblock.. Mangochi m’baluku roadblock… Pachimwala roadblock…. Liwonde roadblock… Chinngeni roadblock.. Monsemo Samatha kusechaaa.?… Ngongole izi zikutha anthu m’Malawi. Nankha amabweza ndi chani…muli ndi biziness yanji yobwezera ma billion onsewo… Tisamanamizane…..

  26. Ahhhh,ahhhh what k55billion shame to imf, those money are not for malawians bt for fools and murders and again useless politicians leaders koma misonkho ya ife ovutika ndife tizayamba kubweza ngongoleyo.shame on you

  35. If USA got $13 tn ngongole just wonder ngati pali dziko lopanda ngongole. When you travel across Africa miyoyo ya anthu osawuka imafanana pena nkumati Malawi wathu ndiwosawuka pomwe anzathuwa boma lawo ndi lolemera zikutheka bwanji. All politicians are Angeles before kutenga boma koma once akatenga boma they do same dirty things. IMF ikadapanga zomwezo ku Zambia bwenzi pano ife tikuyamikira Edgar Lungu pa chuma chifukwa tikudziwa kuti IMF sipereka ngongole ngati chuma chanu simukuyendesa bwino.

  36. Nothing new here and nothing to celebrate.It is foolish to celebrate Ngongole.All previous Govt have had Ngongole from IMF,What have we benefited ? Count Developments from IMF money.where are the Developments ?We dont need IMF money this time around.IMF,DPP both are bunches of Crooks.We dont trust the Govt running this country.IMF,why dont you wait for Forensic Report of 577bn Cashgate .Or ask for it before you commit your Credit Facility.There are numerous malpractices in Dpp so called Govt.How can you be sure that ,the money will reach the poor.The problems which were there 20yrs ago are still there now.Where has your previous money gone ? Pupils are still learning under Trees.Drugs are still not there in Hospitals.Problems are just too many to mention.Where has your previous money gone ?

  38. Million X please, Our governmnt dont plunder that amount by constructing new mansions for yourselves,insead help the needy

  41. Aaaa ife a mphawi tisasangalare ni ndalama imeneyi chifukwa ifeyo siyiti khudza, moti iwowo ayipangila kale ma budget a m’mabanja mwawo( ngakhale ndisekelele ngati GALU pauzimba opanila mphika alichete ndingo sauka)

  42. As long as we are not prudent…ths shall be one of those many credits…we get to load future generation to repay!!..lets be serious Mw!

  50. This Freemason Monetary International kufuna Kuti maliza basi. They know through the money they give it weaknes our government. Since the government started getting money from this organization there have been endless problems. Kudalila zolandila ife sizizayenda pa Nyasa. Wait ndalama zikafika…………………………!

  52. Kkkkkkk inu mukuona ngati zilongosoka moti nkupanga nazo ululate, sing, clap hands & dance?? Chonsecho n’zachidziwikireni kuti dollar zo ndi straight mmatumba mwa aujeni…., I mean ajawo aja mumawadziwa n’kale aja…… Akuujeni kuja eee kujako kuja.

  61. many folks are now aware about Such Grants.now wonder they congratulAte peoplE who Also are possibly not even. concerned bout hunger or whAtever• let us revert to good governancE AnD may be real issues and not IMF. UNDP Etc

  62. many folks are now aware about Such Grants.now wonder they congratulAte peoplE who Also are possibly not even. concerned bout hunger or whAtever• let us revert to good governancE AnD may be real issues and not IMF. UNDP Etc

  65. Boma Ndalama Akuzipeza Koma Aku Maestate A Tea Simukutiganizila K950 Patsiku Itithandiza Chiyani Pomwe Chimanga Tikugula K300

  66. Boma Ndalama Akuzipeza Koma Aku Maestate A Tea Simukutiganizila K950 Patsiku Itithandiza Chiyani Pomwe Chimanga Tikugula K300

  81. Boma apa mpamene liwonekere kut limakonda anthu ake kapena kuzikundikira chuma mmabanja awo coz ndalama izi ndizongowonjezera pazomwe boma linakonzekera pofuna kuthana ndi njala chonde ambuye fewetsan mitima ya asogoleri athu tithandizeni kut anthu anU asabvutike pempho langa ndikanakonda boma litatsekula ma ADMACK ochuluka posawerengera kut ndi kumudz kapena ntown ndikuwonetsetsa kut chimanga chikupedzeka tsikU nditsiku chonde pewani kugawa za ulere coz opindula amakhala ochepa ndimalikonda dziko langa malawi

  82. Boma apa mpamene liwonekere kut limakonda anthu ake kapena kuzikundikira chuma mmabanja awo coz ndalama izi ndizongowonjezera pazomwe boma linakonzekera pofuna kuthana ndi njala chonde ambuye fewetsan mitima ya asogoleri athu tithandizeni kut anthu anU asabvutike pempho langa ndikanakonda boma litatsekula ma ADMACK ochuluka posawerengera kut ndi kumudz kapena ntown ndikuwonetsetsa kut chimanga chikupedzeka tsikU nditsiku chonde pewani kugawa za ulere coz opindula amakhala ochepa ndimalikonda dziko langa malawi

  89. We smile we dont know the IMF was created,to kill impoverish african nations they smile with a panga knife behind we pile loans and pile politicians gets ther full share oh God this slavery world

  90. We smile we dont know the IMF was created,to kill impoverish african nations they smile with a panga knife behind we pile loans and pile politicians gets ther full share oh God this slavery world

  110. Mukungongola ndinu apa mukamwaliramo azabvutike kubweza otsala eti? More than Half ya ndalamo muba atsogolerinu koma obweza ndi amphawi kumudzi. Shame to my home country.

  113. My beloved Malawi is celebrating ngongole???? mmmm sustainable development will be hard to come by….. ngongole tikulipirazi zina mwa izo zinatengedwa 25yrs ago chomwechonso future generations will struggle paying ours… ndangodutsa

    1. Paying back the money wil be masu tuuuuuuuu we must find other means of finding resources not depend upon other countries tili musuzgo mkulu

    2. the problem is our double without donor support and these loans country suffers and even so our stupid opposition of any day they want to look wise when country is on fire…we were not kids in 2012 everyone turned agsinst bingu but for prosperity to come u need to suffer and even chakwera said govt should explain y govt has been EFC been declared off track?he wanted to score political point and it was failure by govt according to mcp not to get ngongoleyo…so ndale zathu zafika pausilu kuti aliyense akufuna kutsogolera even without clear ideologies…be consistent not lero izi mawa izi anthu aziti inu mumakhulupirira chiyani?whats your policy guidance what is ur philosophy?kunali kunyoza ndi kutukwana IMF itapanga offtrack ngongoleyo ndiye apa mukuti chiyani?a malawi kumadziwa chinene tikufuna osati lero kutengeka ndi mphepo?

    3. the problem is our double without donor support and these loans country suffers and even so our stupid opposition of any day they want to look wise when country is on fire…we were not kids in 2012 everyone turned agsinst bingu but for prosperity to come u need to suffer and even chakwera said govt should explain y govt has been EFC been declared off track?he wanted to score political point and it was failure by govt according to mcp not to get ngongoleyo…so ndale zathu zafika pausilu kuti aliyense akufuna kutsogolera even without clear ideologies…be consistent not lero izi mawa izi anthu aziti inu mumakhulupirira chiyani?whats your policy guidance what is ur philosophy?kunali kunyoza ndi kutukwana IMF itapanga offtrack ngongoleyo ndiye apa mukuti chiyani?a malawi kumadziwa chinene tikufuna osati lero kutengeka ndi mphepo?

    4. the problem is our double without donor support and these loans country suffers and even so our stupid opposition of any day they want to look wise when country is on fire…we were not kids in 2012 everyone turned agsinst bingu but for prosperity to come u need to suffer and even chakwera said govt should explain y govt has been EFC been declared off track?he wanted to score political point and it was failure by govt according to mcp not to get ngongoleyo…so ndale zathu zafika pausilu kuti aliyense akufuna kutsogolera even without clear ideologies…be consistent not lero izi mawa izi anthu aziti inu mumakhulupirira chiyani?whats your policy guidance what is ur philosophy?kunali kunyoza ndi kutukwana IMF itapanga offtrack ngongoleyo ndiye apa mukuti chiyani?a malawi kumadziwa chinene tikufuna osati lero kutengeka ndi mphepo?

    5. the problem is our double without donor support and these loans country suffers and even so our stupid opposition of any day they want to look wise when country is on fire…we were not kids in 2012 everyone turned agsinst bingu but for prosperity to come u need to suffer and even chakwera said govt should explain y govt has been EFC been declared off track?he wanted to score political point and it was failure by govt according to mcp not to get ngongoleyo…so ndale zathu zafika pausilu kuti aliyense akufuna kutsogolera even without clear ideologies…be consistent not lero izi mawa izi anthu aziti inu mumakhulupirira chiyani?whats your policy guidance what is ur philosophy?kunali kunyoza ndi kutukwana IMF itapanga offtrack ngongoleyo ndiye apa mukuti chiyani?a malawi kumadziwa chinene tikufuna osati lero kutengeka ndi mphepo?

    7. osamatukwanana the truth is our poverty situation is partly bcoz of ngongolezi. Amene amaziziwa zinthuzi sangatukwaneyi,,, we r in debt trap tikubweza za Muluzi ndi a Moya pamene ana athu azabweza zathu. We r also always in a negative trade balance coz we don’t have money to propel our market kkkkkkk no politics in this mouth forgive me I know what am taking about

  118. From that 55 Billion my request is PLEASE buy at least one Ambulance to that rural area where an uncle was forced to carry dead body of his niece for 50km because there are no government vehicles to help poor communities!!!

  120. Koma Zowona K55 Billion anthu tilipo 18 Million koma uphawi wakewo ngati ndalama sizikulowa. Kodi zikabwela zikumakhala pati school me please. 80% of Malawians are living below basic life, whats wrong with warm heart of africa.

  122. Breakdown yandalamayi iyenda chonchi:Peter muntharika:30billion,chaponda:5billion,mwanamveka:3biliion,goodall Gondwe:2billion,kaliati:1billion,chipani:4billion,Ma cadet 2billion,ovutikafe tikanganilana change chotsala!!!kukhala mmalawi nkowawa!!

  125. No we don’t need loan, this money will be missused by mutharika ‘ s Government of course I know
    jesus christ what great lose to choose thieves to rule the nation

    3. He is right…no country has ever progressed through donor aid or impunity borrowing. We shall forever remain at the bottom of poverty index with this spirit of begging. Sizofunika kuchita kufunsa umboni kuti tingatani; HARD WORK BY THE CITIZENRY WITH A VISIONARY LEADER can see us through. Magufuli pa TZ is a good example. Osamalulutira ngongole ngati zimenezi.

  128. Chonde atsogoleri,, poyamba pemphani mphanvu ndi nzeru kwa Mulungu kuti mwina musiye kuba,, paja zikatere mumakhala busy kuwabera anthu wosauka mmalo moti muwatukure,, anthu woipitsitsa inu,, Mulungu akulankhuleni.. Mumaiwa kuti moyo wadziko lapansi,, ndiwatempulale. Chikhalirenicho ndinu azikulunso amipingo.. Ndalamazo akuti zithandize amalawi malingana ndivuto lachilala lomwe takumana nalo.. Kutelaku simukusamala kanthu koma mwakhonzekera kuti mube basi.. Anthu woipa ngati ndulu yang’ona.. Sindinatchule munthu ndangodutsa

  129. Hahahahahaha scores high what??? That’s how much we have been sold at…. this 55 billion is a loan yes???.. talk about the interests aswell

  131. Palibe ndikuchiwona choti ndisangalalepo apa.Mnzanga wosauka kwathu ndikuvutika basi ndikutifinya kwambiri misonkho yobwezera ngongolezi.Olemera kazibani chumachi poti Ndinkhalidwe wanu.

  133. Scores high? I see nothing new here. The past regimes too were given billions and where does this country stand now. Kupemphako basi ndie he has scored high? Pure retards, kindergarten politics.

  136. Apeleka ngongole cholinga azitilembera budget kukhala kukhapidwa misonkho osati masewera cholinga ngongole tibweze,sikuti ndizauler ayi ndingongol iyi.

  158. Tisamvenso za njala ndalamayo yachuluka.Musagulirenso magalimoto kapena zovala ndalamayo yaculuka mugulire chimanga ngakhale chimanga ca yellow ca ku kenya cho gulani ife tizigula ndikumadya

  160. Vuto ndi atsogeri athu tereku apapa zatha kale ena ma plan ali tho kufuna kuba.Ambuye tichitireni chifundo akhudzeni atsogoleri athu adyera kuti aganidzire anthu ovutika

  161. Peter tatenga ndalama yomwe akupasa azunguyo ukagulire chimanga uzazise mma adimack onse ndalamayo yachuluka.panopa kwaife isale njala ya makobili palibe kanthu

    8. Felix Chinyama Malawi is an embarrassment , still depending on the West aid, when are you going to stand up and do it on your own.

  163. Mulungu dalitsani Malawi(chifukwa cha zimenezi pakati pathu tikulephera kugwirizana ngati ana a mayi m,modzi Malawi,ena afika popha anzawo kufuna chuma ena chifukwa cha njiru basi),mumsunge nditendere! Gonjetsani adani onse(iwo amene akudzetsa kusagwirizana pakati pathu,Ambuye mulowererepo,akubwerensa imfa zokakamiza kwa anthu anzawo Yehova mulowererepo)! Njala,Nthenda Nsanje! Luzisani mitima yathu kuti tisaope(pa ntchito zotukula dziko lathu)! Dalitsenso tsogoleri nafe ndi Mayi Malawi!(zikomo Ambuye chifukwa mukumukonda malawi ndi anthu ake). Pomaliza ndingopempha Mulungu kuti mupitirize kusatiyiwala ife Amalawi! Ndikuti zikomo Ambuye!

  165. Kulandira ndalama zambiri koma anthu nkumavutikabe nzopanda phindu. Zimafunika kuti nawo amene amapeleka misonkho yokwanira ku boma azipeza phindu.

  168. Iwo Apereka Koma Ndalamazo Amabanso,ngakhale Akuziwa Kt Njala Ilipo,katundu Wakwera Mitengo Sakulabada Ayi Bola Malemu Omwe Aja.

  170. Chonde musabenso ndalama zimenezi. Sanakupatseni inuyo, apereka kwa a Malawi osauka akumudzi chonde.

Comments are closed.