IMF Staff Country Reports

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

January 4, 2008

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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, (USA: International Monetary Fund, 2008) accessed December 26, 2024

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.

Subject: Asset and liability management, Balance of payments assistance, Debt relief, Domestic debt, External debt, Public debt, Public financial management (PFM)

Keywords: Africa, CR, Debt, Debt relief, Domestic debt, End-June net foreign assets, Estimate, Fiscal policy implementation, Global, Government, ISCR, Macroeconomic environment, Revisions to estimate, September, Staff appraisal

Publication Details

  • Pages:

    94

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2008/003

  • Stock No:

    1MWIEA2008001

  • ISBN:

    9781451828184

  • ISSN:

    1934-7685

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