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240607 ||| eng |
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|a 9798400250941
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| 245 |
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|a Malawi
|b First Review Under the Staff-Monitored Program with Executive Board Involvement-Press Release; Staff Report; and Statement by the Executive Director for Malawi
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2023
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| 300 |
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|a 94 pages
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| 651 |
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4 |
|a Malawi
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| 653 |
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|a Foreign exchange reserves
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| 653 |
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|a Public debt
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| 653 |
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|a International Organizations
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| 653 |
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|a Finance
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| 653 |
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|a Debt service
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Monetary economics
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| 653 |
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|a International agencies
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| 653 |
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|a Debt Management
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| 653 |
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|a Debts, Public
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| 653 |
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|a Debt
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| 653 |
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|a Currency
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| 653 |
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|a Exports and Imports
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| 653 |
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|a International Lending and Debt Problems
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| 653 |
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|a International economics
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| 653 |
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|a External debt
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| 653 |
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|a Debts, External
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| 653 |
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|a International organization
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| 653 |
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|a National Government Expenditures and Related Policies: General
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| 653 |
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|a Central banks
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| 653 |
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|a Sovereign Debt
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a International institutions
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| 653 |
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|a International reserves
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| 653 |
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|a Banks and Banking
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| 653 |
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|a International Economics
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| 653 |
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|a Monetary policy
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| 653 |
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|a Banking
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| 653 |
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|a Financial Risk Management
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| 653 |
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|a Public Finance
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Foreign exchange
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| 653 |
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|a International Agreements and Observance
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| 710 |
2 |
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|a International Monetary Fund
|b African Dept
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Staff Country Reports
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| 028 |
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|a 10.5089/9798400250941.002
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| 856 |
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|u https://elibrary.imf.org/view/journals/002/2023/299/002.2023.issue-299-en.xml?cid=537345-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a This paper presents Malawi’s First Review under the Staff-Monitored Program with Executive Board (PMB) Involvement. In light of a series of shocks, program performance was mixed. The authorities are taking corrective actions to establish a record of accomplishment of policy implementation, possibly paving the way to an Extended Credit Facility (ECF) arrangement. Cyclone Freddy has weighed on the outlook for 2023 and led to a lower growth forecast and a higher inflation forecast. Key downside risks include slippages in program implementation, delays in the ongoing external debt restructuring process, and further external shocks. Performance on Quantitative Targets (QTs), Indicative Targets (ITs), and Structural Benchmarks was mixed, with four out of six end-December and continuous QTs and one out of three end-December ITs not met. Four out of seven Structural Benchmarks were not met. The authorities have committed to strong corrective actions. The authorities are taking corrective actions necessary to overcome mixed performance and implementation challenges with the PMB to date, allowing them to demonstrate their commitment and capacity to implement the agreed macroeconomic adjustment and reforms to build the policy record of accomplishment needed to support their request for an ECF arrangement.
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