EU auditing Malawi: Test for budget aid resumption

European Union (EU)  could resume budgetary support to Malawi if the results of verification exercise of the agreed performance target is met.

President Mutharika and EU envoy at Kamuzu Palace: Aid test
President Mutharika and EU envoy at Kamuzu Palace: Aid test

EU has engaged a team of independent consultatnt to take  verifiactaion exercice on any evidence of achievements on the agreed targets it was given for the multilateral body to resume direct budget support to Malawi.

In 2013, most of Malawi’s development partners  withdrew their budgetary support on concerns of poor public finance management.

EU press and political officer James Dolan  said: “The out come of this verification exercise will inform further decision making on budget support.”

Last year,  Malawi failed the EU test during  an assessment carried out by an independent verification team on the set targets.

A reported  titled Malawi’s Economic Malaise-concluded that overall Capital Hill failed the test.

The continued lack of expenditure controls as evidenced, for example, by the fact that “there has not been a single month of bank reconciliation” two years after Cashgate; government’s failure to produce audited accounts; poor financial reporting and oversight, are some of the problems that forced the EU not to trust   the  Peter Mutharika administration for this fiscal year.

But Treasury  spokesman  Alfred Kutengule said this time around, they are upbeat that they will pass the EU test.

He said the verification exercise which the EU is conducting is “for the assessment of benchmarks for budget support from EU.”

He said  Ministry of Finance , Economic Planning and Development has put its house in order and they they will get the nod.

Kutengule said they “optimistic” that the requirements for the EU budget support “will be met this time.”

Noting that the Cashgate revealed in 2013 was not a singular misappropriation of government funds, but the tip of an iceberg of long-existing practices going back to 2005, the EU called for more action from the reforms.

 

 

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MASO A NKHONO
MASO A NKHONO
8 years ago

MAY GOD HEAL THE LAND WITH HIS MERCIES

IT SEEMS WE ARE DRUNK WITH WICKEDNESS THAN HOLY
SPIRIT

PRAYERS !!

His Excellence the Life President Wolemekedzeka Mkango Lion Chivomerezi Chisokonezo Artillery ArchMissile Manthakanjenjemereza
His Excellence the Life President Wolemekedzeka Mkango Lion Chivomerezi Chisokonezo Artillery ArchMissile Manthakanjenjemereza
8 years ago

Rubbish Kutengule, the National Audit is not independent and no ITI Bill was passed.Malawi will eat sand and njerwa this year.

mmc
mmc
8 years ago

Cashgate has been there since Kamuzu Days’… How come that few powerful people in Hastings’ Government including himself were very rich than the rest… show me reconciled documents from that era (if at all they are present) and let them be analysed you will see that stealing started even during that time. The bottom of the matter is our politicians have been stealing since time in memorial… we seriously need a political revolution to chase this crop of politicians!

BBQ
BBQ
8 years ago

When did these two pictured? I am surprised because you said there is enemity going on between the President and his Vice and yet they are doing this job together. If they were pictured yesterday then Nyasatimes you leave alot to be desired.

Chambe
Chambe
8 years ago

The bad practice goes way back when Muluzi took over. During his period, people took loans and never paid back. People got paid upfront for the goods that they never supplied. No financial reconciliations at all. We know all about this that Bingu found rampant corruption when he took over hence his bad relationship with Muluzi when he was on a drive to deal with corruption. Unfortunately this cancer continued until today.
The Asset Forfeiture should be brought back please.

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