IMF OKs USD77.1 Million Loan to Malawi

The International Monetary Fund will lend USD77.1 million to ease the impact of higher fuel and fertilizer prices this year in Malawi. IMF Deputy Managing Director Takatoshi Kato said fuel and fertilizer costs have gone down but he expects the country to suffer the negative impact of earlier price surges in the coming months “because current imports of oil and fertilizers were contracted at earlier high prices.” The fund pledged to immediately release USD51.4 million of the one-year financial assistance. (“IMF approves Malawi loan as price rises pinch” - Thomson Reuters, Dec. 3, 2008)

About the author

Join the Discussion