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Tuesday, 24 January 2012

Malawi: Uncertainty before EU assistance

If Malawi does not return to the suspended IMF programme, it could lose more EU financial support. European Union (EU) Ambassador Alexander Baum has recently said that the EU disbursed 52.2 million euros to Malawi under various programmes during 2011 and entered into new commitments of 55.2 million euros “[representing]  a dramatic reduction of about 100 million euros in grant money compared to the previous year 2010”
“Whereas the EU’s disbursements for projects remained stable in 2011, the reduction is almost entirely due to the fact that budget support operations have been put on hold as the EU is unable to implement this type of programmes under the government’s current economic policies in the absence of an agreement with the IMF”, Baum adds.
Baum underlines that the resumption of general budget support will require the agreement from EU member states in the European Development Fund (EDF) committee and will take into account Malawi’s current governance situation.

Source: Malawi today

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