News Briefs

Malawi and the IMF

The IMF's Poverty Reduction and Growth Facility (PRGF) -- A Factsheet

News Brief No. 00/125
December 28, 2000
International Monetary Fund
700 19th Street, NW
Washington, D.C. 20431 USA

IMF Gives Final Approval of PRGF Loan for Malawi

The Executive Board of the International Monetary Fund (IMF) has given its final approval of the three-year loan under the Poverty Reduction and Growth Facility (PRGF) for Malawi in an amount equivalent to SDR 45.11 million (about US$58 million-see Press Release No. 00/79).

The final decision by the IMF Executive Board was contingent on a decision by the World Bank Executive Board on December 21, 2000 which concluded that the interim Poverty Reduction Strategy Paper (PRSP) provides a sound basis for development of a fully participatory PRSP and for concessional assistance by the World Bank.

Under Malawi's three-year PRGF arrangement, the IMF Executive Board decision makes available immediately SDR 6.44 million (about US$8 million).


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