Malawi Secures $45m from World Bank to Import Maize from Zambia
Government says it has secured $45 million from the World Bank, funds that have been earmarked for the importation of 200,000 metric tonnes of maize from Zambia, under government to government arrangement.
Finance Minister, Joseph Mwanamvekha, has revealed this to journalists in Lilongwe, where he is unpacking the outcomes of World Bank and International Monetary Fund annual meetings, which the country participated.
“The procurement of this maize will be done following World Bank procedures and our own procedures,” he says.
However, he reveals that public debt has soared to K21.6 trillion from K4.1 trillion in 2020, when the Democratic Progressive Party (DPP) was ousted from power.
Mwanamvekha says the government does not have plans to devaluate the local currency, despite asking international partners like the IMF to assist in stabilizing the economy.
(by Kenphord Mdima-Lilongwe: 10/24/25)
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