By AFP 29 September 2022 | 3:55 pm IMF chief Kristalina Georgieva met with Malawi’s President Lazarus McCarthy Chakwera on Thursday and committed to provide support to the country, as it faces economic challenges and “unsustainable” public debt. FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during a conference hosted by the Vatican on economic solidarity, at the Vatican, February 5, 2020. REUTERS/Remo Casilli IMF chief Kristalina Georgieva met with Malawi’s President Lazarus McCarthy Chakwera on Thursday and committed to provide support to the country, as it faces economic challenges and “unsustainable” public debt. The government of the East African nation has been in discussions with the Washington-based crisis lender for months on its request for an aid program to help stabilize the economy. Georgieva said she had a “productive” discussion with Chakwera “on the difficult economic situation facing Malawi,” and expressed her “resolute support” for the country. “I was impressed by the President’s unwavering commitment to forge ahead with ambitious reform efforts to help improve the lives of the Malawian people and to firmly restore macroeconomic stability, including tackling unsustainable public debt,” she said in a statement. An IMF team is expected to visit the country “very soon to discuss next steps and explore options to address Malawi’s immediate financing needs and support its reform program,” she added. The fund projects the country will see modest growth of 2.2 percent this year, but inflation is approaching 11 percent, and the government faces a growing debt burden and a high risk of debt distress. Latest 1 day ago Gov. Okezie Ikpeazu of Abia has said that his administration will provide the support necessary for the success of the 2023 Population and Housing Census in the state. 1 day ago Nigeria Security and Civil Defence Corps (NSCDC) says it has recovered 21,600 litres of Premium Motor Spirit (PMS) known as petrol from pipeline vandals in Badagry, Lagos State. 1 day ago An organic hair care manufacturing company in Lagos, Mara Cruiz Limited, has unveiled an initiative to empower about 1,000 African women and giving them an opportunity to resell their products with low entry fee. 1 day ago The Rule of Law and Empowerment Initiative also known as Partners West Africa Nigeria, in collaboration with Ford Foundation, has kick-started a campaign for survivors-centred policing of gender-based violence cases in Nigeria. The Executive Director, Partners West Africa Nigeria (PWAN), Kemi Okentedo, stated that the group works in the areas of security, governance and criminal… 1 day ago The Abuja Chamber of Commerce and Industry (ACCI) on Thursday disclosed that 300 corporate exhibitors would be participating in the 17th Abuja International Trade Fair (AITF). Director-General, ACCI, Victoria Akai, who disclosed this in Abuja, said the event is expected to be declared open by President Muhammadu Buhari on Friday. The 17th AITF is scheduled…
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