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Malawi hopes for more loans as World Bank resumes support

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Published on May 30, 2017

Malawi hopes global lenders will release funds frozen over a government graft scandal, now that the World Bank has resumed its budget support programme. Three years ago, public servants siphoned of millions of dollars, causing Western donors to halt financial support to Malawi. The World Bank has welcomed the reforms Malawi has implemented. Earlier this month, it announced 80 million dollars in aid for the country. An EU measure for budgetary support is pending resumption. Both are signs of renewed confidence in Malawi's economic management. Although economic activity remains subdued, strong fiscal policies reinforced by the International Monetary Fund have sparked a sustained recovery, which is expected to continue into 2018.

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