7 December, 2022

IMF waiver on Malawi’s misreporting, not relief for implicated finance officials

Kabambe, former RBM Governor not off the hook

Former top public officials implicated in the misreporting of the country’s foreign reserves to the International Monitory Fund (IMF) will still undergo trial despite the Bretton Woods institution’s board granting Malawi a waiver.

While confirming that Malawi had overstated its three year extended credit facility for end-June and end-December 2018 as well as for end-June 2019; the IMF’s executive board has still granted Malawi chance for new lending.

Former finance minister, Joseph Mwanamvekha, and former Reserve Bank of Malawi – RBM Governor Dalitso Kabambe are currently answering charges in court concerning the incident.

Speaking to Capital FM Minister of Information Gospel Kazako has indicated that government is working on ensuring that it cleans the slate.

He adds that while they find relief in the IMF waiver on the misreporting matter, action on those that orchestrated the act would show commitment to the multilateral partner.

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