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Govt Pushes For New ECF With IMF

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The Minister of Finance Sosten Gwengwe says the government is working round the clock to find a lasting solution to the economic challenges the country is facing.

Addressing the media in Lilongwe, Gwengwe said among other options, that the government is continuing negotiations with the International Monetary Fund (IMF) for a new Extended Credit Facility.

This comes hot on the heels of media reports that the IMF has closed its doors on Malawi due to high levels of debt that the fund says is unsustainable.

According to Gwengwe, the government is also engaging the country’s various creditors for a sound debt retirement plan

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