Goodall Gondwe still confident of World Bank support

Post was last updated: April 4, 2018

As time continues to tick towards the end of the 2017/18 fiscal year, Finance Minister Goodall Gondwe has said he remains confident that Malawi will get K60 billion budget support from the World Bank.

Presenting the Mid-year Budget report to Parliament recently, Gondwe said that Capital Hill was hoping to get K60 billion support from the Bretton Woods institution, which would help stir the budget back on track.

But with about 90 days to go before the end of the fiscal year, Gondwe said on Monday he is still optimistic the dollars would come.

The Finance minister could, however, not indicate when Malawians should expect the money into the country.

“I cannot tell when the money is coming. Money can come any day. Malawians need not lose hope on the budgetary support,” Gondwe said.

He observed that government is currently working on the conditionalities of the budget support.

“They gave us some conditions to meet and we are working on how best to meet the conditionalities,” Gondwe said.

Asked on whether the conditionalities would not harm a majority of poor Malawians, Gondwe said where money is involved, tough conditions have to be met.

He, however could not share some of the conditions set by the World Bank for Malawi to get the budget support.

In his mid-year budget statement, Gondwe indicated that the government will implement a number of measures to boost revenue collection to a target of K70 billion more than the money collected in the first half of the year.

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