Malawi: Fourth and Fifth Reviews Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and Request for Waivers of Nonobservance of Performance Criteria-Staff Report; Staff Supplement; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Malawi
Electronic Access:
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Summary:
Progress on fiscal policy during 2006/07 in Malawi was slower than expected. The 2006/07 (July-June) fiscal strategy focused on reducing domestic debt. In the third Poverty Reduction and Growth Facility (PRGF) review, the end-June target for domestic debt repayments was increased substantially. Domestic borrowing exceeded the adjusted target at end-December 2006 by MK 4.1 billion (0.9 percent of GDP). The government partially redressed this overrun by curtailing discretionary spending in the fourth quarter, as the scale of the end-December overrun became clear.
Series:
Country Report No. 2008/003
Subject:
Asset and liability management Balance of payments assistance Debt relief Domestic debt External debt Public debt Public financial management (PFM)
English
Publication Date:
January 4, 2008
ISBN/ISSN:
9781451828184/1934-7685
Stock No:
1MWIEA2008001
Pages:
94
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