Malawi: Fifth and Sixth Reviews Under the Extended Credit Facility Arrangement, Request for Waivers for Non-Observance of Performance Criteria, Extension of the Arrangement, Modification of Performance Criterion, and Rephasing of Disbursements
March 30, 2015
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This paper discusses Malawi’s Fifth and Sixth Reviews Under the Extended Credit Facility (ECF) Arrangement, Request for Waivers for Non-observance of Performance Criteria (PCs), Extension of the Arrangement, Modification of PCs, and Rephasing of Disbursements. Program implementation was uneven given external financing shortfalls with several PCs not being observed. Three out of seven PCs for the fifth review were not met, including the continuous PC on the contracting of nonconcessional external loans. The new authorities are firmly committed to the core policies and objectives of the original ECF-supported program. Program discussions focused on key policy actions to address these challenges and bring the program back on track.
Subject: Banking, Budget planning and preparation, Expenditure, External debt, Public debt, Public financial management (PFM)
Keywords: Budget planning and preparation, budget support, complying disbursement, CR, debt, disbursement of SDR, East Africa, ECF arrangement, Global, government, IMF Executive Board, ISCR, near-term reform agenda, public finance, Southern Africa
Pages:
121
Volume:
2015
DOI:
Issue:
083
Series:
Country Report No. 2015/083
Stock No:
1MWIEA2015001
ISBN:
9781475521009
ISSN:
1934-7685
