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Stock Market / Finance in Malawi

  • DPP Scraps Off Mk4.6 Billion Mulli Loan, Malawi

    MALAWI, 2015/04/26 Government, through Ministry of Finance, has made a decision to write off MK6 billion loan that Democratic Progressive Party financiers and sympathisers do owe the Malawi Savings Bank. "I write to inform you that the government has resolved to hive off MSB toxic asserts amounting to MK6, 074,773, 871.70," reads a letter to MSB purportedly written by government's Chief Secretary, Ronald Mangani, which Malawi24 has a copy of. In an extra letter dated 20th April, Mangani instructs Charles Chuka, governor of the Reserve Bank to bailout MSB as a way of clearing the loans that Mulli Brothers owes the public company.

  • Malawi Gets K16 Billion Budget Support From the World Bank

    MALAWI, 2013/05/30 The World Bank Board of Executive Directors Tuesday approved a US$50 million grant (about K16 billion) to the Malawi Government for general budget support. In a press statement made available to Malawi News Agency (Mana), the World Bank says this is the prime in a programmatic series of three economic recovery development policy operations (ERDPO). The focus of the series is to strengthen macroeconomic and finance management and lay foundation for stronger increase and protection of the poor. Each of the ERDPOs will be a single tranche operation.

  • IMF Credit Facility Arrangement for Malawi and Approves US$19.6 Million Disbursement

    MALAWI, 2013/04/09 The Executive Board of the International Monetary Fund (IMF) today completed the second review of Malawi’s economic performance under a program supported by the Extended Credit Facility (ECF) arrangement. The Board’s decision enables the immediate disbursement of an amount equivalent to SDR 13.02 million (about US$19.6 million), bringing total disbursements under the arrangement to an amount equivalent to SDR39.06 million (about US$58.7 million).

  • Christine Lagarde at the Conclusion of A Visit to Malawi

    MALAWI, 2013/01/07 “It is a great pleasure to be in Malawi for my prime visit as Managing Director of the IMF. I had the privilege to meet President Joyce Banda and her cabinet, inclunding the Governor of the Reserve Bank of Malawi. I as well had the opportunity to exchange views with members of parliament, development partners, and business and civil society representatives, including a group of outstanding women leaders. Today, I visited a group of women supported by the Microloan Foundation of Malawi. I was particularly inspired by their resilience and entrepreneurship.
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