By Suleman Chitera
President Peter Mutharika has assured a visiting delegation from the International Monetary Fund (IMF) that his administration is committed to urgently resolving Malawi’s key economic challenges, including persistent fuel shortages, lack of farming inputs, and rising hunger.
The President made the remarks on Sunday during a high-level meeting held at State House in Mtunthama, Lilongwe, where government officials engaged the IMF on strategies to revive the country’s struggling economy.
Government Prioritises Short-Term Economic Interventions
President Mutharika said it is crucial for Malawi to implement short-term measures aimed at addressing pressing issues such as mounting national debt and the shortage of foreign exchange.
He noted that most of the funds currently collected by government are being channelled towards debt repayment, a situation he described as unsustainable without external financial support.
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Despite the challenges, Mutharika expressed optimism, saying Malawi is expected to receive backing from the IMF, development partners, and other stakeholders to help stabilise the economy and ease forex shortages.
“Malawi will receive support from the IMF, non-governmental organizations and others to help resolve the shortage of foreign exchange as the country works to restore economic stability,” said the President.
IMF Engages With Government to Understand Economic Priorities
Minister of Finance and Economic Planning, Joseph Mwanamvekha, described the meeting as “very productive,” saying it allowed the IMF to fully understand President Mutharika’s economic recovery vision.
Mwanamvekha emphasised that the government remains committed to restoring fiscal discipline, strengthening macroeconomic stability, and ensuring that the country returns to a sustainable growth path.
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IMF Pledges Support for Malawi’s Economic Recovery Plan
IMF Director for the African Department, Abebe Selassie, reaffirmed the Fund’s commitment to supporting Malawi as it works to overcome its economic challenges.
Selassie said the IMF is ready to provide technical advice, policy guidance, and additional financial support to help Malawi implement effective development programmes and improve economic prospects.
He stressed that collaboration between Malawi and its partners will be key to ensuring long-term economic resilience.
Key Issues on the Table
Fuel shortages and supply inconsistencies
Lack of farming inputs ahead of the farming season
Rising hunger in many parts of the country
Mounting national debt and high repayment obligations
Acute foreign exchange shortages
Conclusion
The engagement between President Mutharika’s administration and the IMF marks a significant step in Malawi’s efforts to stabilise its economy. As the government works to implement urgent reforms, the promised support from international partners is expected to play a vital role in addressing the nation’s immediate and long-term challenges.
