The Executive Board of the International Monetary Fund (IMF) today completed the first review of Malawi’s performance under its program supported by a three-year arrangement under the Extended Credit Facility (ECF). Completion of the review enables Malawi to draw the equivalent of SDR11.15 million, (about US$ 15.4 million), bringing total disbursements under the arrangement to SDR22.3 million (about US$ 30.9million).

Malawi's central bank lowered its policy rate by a further 200 basis points to 16.0 percent, citing "recent disinflation, inflation outlook and the desire to consolidate gains made in stabilizing the economy."

Malawi's central bank slashed its policy rate by 400 basis points to 18.0 percent as the disinflationary momentum has strengthened, with the stabilization of the kwacha's exchange rate boding well for a continued decline in inflation.

The Executive Board of the International Monetary Fund (IMF) today completed the ninth and final review of Malawi’s economic performance under the program supported by an Extended Credit Facility (ECF) arrangement [1]. The Board’s decision enables the immediate disbursement of the equivalent of SDR 19.5 million (about US$ 26.9 million), bringing total disbursements under the arrangement to the equivalent of SDR 138.8 million (about US$ 191.4 million).