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IMF to consider Malawi aid request
The International Monetary Fund (IMF) will consider Malawi’s application for a resumption of aid suspended in 2003 during a meeting in Washington on August 5, Finance Minister, Goodall Gondwe, said on Tuesday.
The IMF board meeting was originally scheduled for July 18 but had been postponed to give Malawi’s parliament time to pass its 2005/06 budget bill, after debate on the document was delayed following the sudden death of its speaker.
The bill was passed on Friday. It aims to reduce the country’s budget deficit to one percent of gross domestic product from three percent last year and repay a large chunk of the government’s $500 million domestic debt.
He said he expected a positive response from the IMF as the government had worked hard to meet the Fund’s requirements.
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