The cabinet members of Malawi have reportedly rolled out adverts to congratulate President Lazarus Chakwera on the approval of $88.3 million loan from the International Monetary Fund (IMF). Idriss Nassah,
the disbursement to Malawi under the new “food shock window” emergency lending facility launched in response to food price spikes and shortages caused by Russia’s war in Ukraine.However, Nassah said this development has made cabinet members congratulate the president through adverts.
“The IMF has given Malawi a loan of $88 million. Cabinet ministers are rolling adverts to congratulate their president, Mr Lazarus Chakwera,” the tweet reads. Meanwhile, the president announced that the IMF’s approval of $88.3 million under the Rapid Credit Facility “is great news for our country”.“RCF is timely for our economy given the effects we’ve suffered from external shocks, natural disasters and emergencies, among others.
“We will continue to engage these key financial institutions in respect of lasting economic solutions.”