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IMF Extends Malawi Loan Program, Adds $80M for Drought

The International Monetary Fund (IMF) will increase loans to Malawi by $76.8 million, the global lender said on Monday following an economic review of the drought-hit country. The IMF said it was also augmenting Malawi's Extended Credit Facility (ECF) arrangement, signed in 2012, by another six months with funding equivalent to $49.2 million. "Malawi's macroeconomic situation remains difficult, reflecting weather-related shocks and past policy slippages, which contributed...

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