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IMF approves $88.3 million for Malawi under 'food shock' loan window - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The IMF said its executive board on Monday approved an $88.3 million disbursement to Malawi under the new “food shock window” emergency lending facility launched in response to food price spikes and shortages caused by Russia’s war in Ukraine.

The International Monetary Fund logo is seen outside the headquarters building in Washington, US, September 4, 2018.The International Monetary Fund logo is seen outside the headquarters building in Washington, US, September 4, 2018.

The IMF also said the executive board assessed that a previously approved staff-monitored policy program for Malawi linked to the food shock loan is “sufficiently robust to meet the stated objectives” and was expected to build a track record of policy implementation that could lead to a more formal IMF “upper credit tranche-quality” loan arrangement.

“Malawi is facing a challenging economic and humanitarian situation, with foreign exchange shortages and an exchange rate misalignment leading to a sharp decline in imports including fuel, fertilizer, medicine, and food,” IMF Deputy Managing Director Bo Li said in a statement.

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Africa re colonised bit by bit

Ja would love to see how the Loan is Spent & on What 😌

Where does IMF gets the money?

Yah neh!!

RET faction of ANC would love to be Malawians' guests - just to loot that money

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