Malawi: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria
IMF Staff Country Reports, December 20, 2006
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- Malawi: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria
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Bibliographic details
- Published: December 20, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451828146.002
Summary of findings and assessments
- The objective for net foreign assets was a central topic of discussion in the report.
- Macroeconomic performance under the PRGF arrangement was broadly discussed.
- Several developments during the second half of 2005/2006 required the authorities to strengthen financial management controls and to make other policy adjustments.
- To meet additional humanitarian needs, the government expanded its food security operations.
- The authorities are working with IMF staff and other stakeholders to redefine pro-poor spending for 2006/2007.
- The government has taken further steps to ensure the viability of the pension system.
Key policy actions and recommendations
- Strengthen financial management controls in response to developments in the second half of 2005/2006.
- Redefine and clarify pro-poor spending priorities for 2006/2007 in collaboration with IMF staff and stakeholders.
- Continue measures to ensure the viability of the pension system.
- Maintain focus on the net foreign assets objective as part of macroeconomic program monitoring under the PRGF arrangement.
Operational and programmatic developments
- Expansion of government food security operations to address additional humanitarian needs.
- Ongoing engagement between Malawi authorities, IMF staff, and other stakeholders on spending priorities and program adjustments necessitated by mid-program developments.
International Monetary Fund. "Malawi: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria", IMF Staff Country Reports 2006, 445 (2006).