African bank president visits Malawi
The African Development Bank (AfDB) Group President, Akinwumi Adesina, is expected to visit Malawi from Tuesday, giving hope he might be bringing positive answers for President Peter Mutharika on budgetary support.
The Bank says Adesina will among key engagements, hold high-level discussions with Malawi President Peter Mutharika.
The President’s visit comes a few weeks after a group of nine AfDB Executive Directors visited Malawi from 6 to 11 March 2016.
The visit by the President is seen as consolidating the long-standing partnership between the African Development Bank Group and Malawi.
Mutharika recently asked a nine member AfDB executive directors who were in the country a few weeks ago to consider supporting Malawi through direct budgetary support.
The directors said they would look into the matter.
The visit by the most senior AfDB member to Malawi comes at a time when the country is facing severe economic problems coupled with severe food shortages, high interests Malawi and high inflation rate.
Economic experts say AfDB can resume the budgetary support following IMF decision to put Malawi back on extended credit facility that has instilled donor confidence.
The IMF has since given Malawi a US$74 million loan as a starter pack to kick start the ailing economy.
Inde pakhomo pakakhala matenda anthu amabwera kudzazonda kawirikawiri. Sadly, some unambitious minds think this is good news. Instead of asking, why, in the first place, are we not able to economically stand unaided.
After hearing of the agricultural Csshgate and that the Government has failed to bring charges for the theft. Will not be Donor money but a Loan to Government as the IMF Bank loans money with interest charges. These banks do not care if money is lost to cashgate only that the Government tepays the loan. Since the Government has failed repeatily to repay the banks have stopped loaning money, In addition the free money from donors to run Government has stopped because of the looting. Governments are to help all people not a few. Get on with the prosecution of… Read more »
hoping ukhala wa phindu ulendo umenewu aulula mmene cuma ca dzujo ciiyendera. too much bodza pitala. smearing alendo ndi high levels of hospitality, ci aiwale kwao.mmmmhu
Good news ‘but’ do not be reluctant. Continue to work extra hard, engage another gear so that the so called opposition leaders must shut-up their stinking proboscis.
This is good news! Let us make the most of this opening!