JOHANNESBURG – The International Monetary Fund (IMF) has approved the disbursement of $15.4 million to Malawi as part of a three-year loan arrangement to assist the southern African country’s economic and financial reforms.
The $108.2 million three-year arrangement was approved in April this year and the current draw brings the total disbursements under the arrangement to $30.9 million, the fund said.
“Malawi’s program performance has been satisfactory. Program-supported structural reforms advanced and most performance criteria were met,” IMF Deputy Managing Director Tao Zhang said in a statement late on Wednesday.(Reuters)