Salem Radio Network News Friday, December 9, 2022

World

IMF, Malawi reach staff agreement on $88 million financing

JOHANNESBURG (Reuters) – The International Monetary Fund (IMF) said on Friday that it had reached a staff-level agreement with Malawi for up to $88.3 million in emergency financing.

“Malawi is the first low-income country to reach a staff-level agreement to receive up to about $88.3 million in emergency financing through the IMF’s new Food Shock Window,” the IMF said in a statement.

The IMF said the money would help the southern African country address urgent balance of payments needs related to the global food crisis, and would support economic adjustment and structural reforms.

(Writing by Anait Miridzhanian; Editing by Alexander Winning)

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