The International Monetary Fund (IMF) postponed two Technical Assistance (TA) missions that were initially scheduled for this month due to the political tension in Malawi, while still sure that the review of its Extended Credit Facility (ECF) program will happen next month.

While an IMF mission team is expected in the country mid next month to evaluate the $112.3 million (K85 billion) program, the new International Monetary Fund (IMF) Resident Representative, Farayi Gwenhamo, said that the postponed TA missions are separate and independent from the forthcoming ECF Review mission. “At this stage, the IMF is closely monitoring the security situation to determine whether the forthcoming ECF Review Mission can go ahead,” Gwenhamo said.

The $112.3 million (K85 billion) program is aimed at entrenching macroeconomic stability and to foster higher, more inclusive and resilient growth. Under the last ECF review in March this year, IMF cautioned the government to improve debt and public finance management including undertaking regular bank reconciliations, improve commitment control and cash management.