Malawi: First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Malawi
March 7, 2006
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This paper presents Malawi’s First Review Under the Poverty Reduction and Growth Facility. The overvalued exchange rate has put external reserves under pressure, and the backlog of unpaid import invoices persists. The impact of the overvalued exchange rate on the value of donor inflows and the unforeseen upward revisions to debt obligations has increased domestic borrowing needs. The government is committed to program implementation, but faces intense political pressures because of its minority position in parliament.
Subject: Credit, Expenditure, External debt, Foreign exchange, Imports, International trade, Money
Keywords: broad money, CR, Credit, government, Imports, ISCR, medium term strategy, PRGF loan, PRGF-supported program, Three-Year PRGF arrangement
Pages:
78
Volume:
2006
DOI:
Issue:
094
Series:
Country Report No. 2006/094
Stock No:
1MWIEA2006001
ISBN:
9781451828108
ISSN:
1934-7685
