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IMF offers second installment of $102 mln emergency loan to Malawi

IMF offers second installment of $102 mln emergency loan to Malawi

THE International Monetary Fund (IMF) has extended an emergency loan of $101.96 million for Malawi to plug its fiscal deficit, a second instalment of credit offered to tide over the financial hit from the coronavirus. The first loan of $91 million was disbursed in May to fund a widening gap in balance of payment in the south-east African nation. [nL8N2CK05V] “Malawi’s economic outlook has worsened (since May)... with the accelerated spread of the pandemic in the country,” the IMF said in a statement. It said the second credit facility will help strengthen the health care system, step up social spending,…
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