IMF salutes efforts to tackle graft

However, it is urging the East African nation to bring soaring prices under control. A report on the News24 site notes that it adopted an action plan to bust graft in the wake of massive fraud last year that prompted Western donors to freeze $150m in aid. 'The authorities have made progress in addressing governance and public financial management weaknesses,' the IMF said at the end of its latest review mission to the country. The report notes that President Joyce Banda, who faces an election in just more than six weeks, has implemented austerity steps that led to the restoration of an IMF $79.4m credit facility. Full report on the News24 site