Friday, 7 June 2013

Malawi Gets K17 Billion from World Bank

The World Bank has granted the (struggling) Malawi government Malawi K17 billion to assist with economic recovery. The funds are intended to help the country achieve macroeconomic stability and overcome some of the chronic and seriously disruptive challenges such as foreign exchange shortfalls that regularly lead to fuel, food and medicine shortages. This may be the big chance for a president who came to power after the death of her predecessor, with big expectations and, while remaining a darling of the west international concerned-about-fiscal-responsibility club, has struggle to keep the support of her population after failing to fix the economic challenges faced by ordinary people. With elections on the horizon, this appears to be Banda's chance to things better before she tries to get elected president for the first time.

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