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IMF backs Banda's reforms

Publish date: 11 June 2012
Issue Number: 3053
Diary: Legalbrief Today
Category: General

The International Monetary Fund has said it will lend Malawi $157m to help its ailing economy. Malawi has been beset with economic problems since the IMF sharply curtailed lending facilities last year.

BBC News reports that former leader Bingu wa Mutharika, who died in office in April, was widely criticised for a poor human rights record and mismanaging the economy. His successor, President Joyce Banda, has taken steps to appease donors with a series of reforms. The IMF's mission head for Malawi, Tsidi Tsikata, said the new arrangement was subject to approval next month by the organisation's executive board. The report notes that, among other things, Banda said she aims to overturn the ban on homosexual acts which has offended some Western leaders. Full BBC News report