By Smile Hamilton, Malawi
The Government of Malawi has announced a mutual agreement with the International Monetary Fund (IMF) to suspend the Extended Credit Facility (ECF) program until further notice.
The decision follows recent discussions between the government and the IMF during the spring meetings held in Washington, D.C.
According to a press statement made available to African Culture TV, both parties have agreed to let the current ECF program lapse, paving the way for a potential new agreement after the September 2025 elections.
The statement notes that the program, which aimed to restore macroeconomic stability, faced significant challenges due to external shocks such as COVID-19, cyclones, and drought.
Meanwhile, the IMF has agreed to send a mission to Malawi in late May 2025 to conduct monitoring and consultations in preparation for a future arrangement.
The government has assured the public that economic reforms and fiscal discipline will continue during the suspension period.
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