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IMF says Malawi govt. goofed on social spending

Tsikati- Malawi missed by small marginMZUZU--The International Monetary Fund (IMF) has said although Malawi's performance was generally satisfactory under most of its programmes during the second quarter ending December 31 2012, the Joyce Banda led government has missed targets on reserve money and social spending.

Speaking in Malawi's capital Lilongwe Tuesday on behalf of an IMF delegation that was in the country, IMF mission Chief for Malawi Tsidi Tsikata said the mission has since reached staff-level understandings with authorities on policies for completing the second Extended Credit Facility review.

He said the IMF's Executive Board meeting, which is tentatively slated for late March, will be waiting for a complete review from the country to enable the Malawi government get about US$20 million from the world monetary body.

"The indicative targets on reserve money and on government social spending were missed by small margins... the authorities indicated after a delay, social protection programmes have been successfully scaled up," Tsikata told the local press.

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