Latest news with #SimplexChithyolaBanda
BBC News
15-05-2025
- Business
- BBC News
World Business Report IMF terminates a $175 million loan for Malawi
The International Monetary Fund has terminated a $175 million loan programme with Malawi, citing poor economic management. The IMF said Malawi, one of the poorest countries in the world, had failed to fully restructure its unsustainable debt, but the country's government argues that it has decided to suspend this until after the elections in September this year. Rahul Tandon heard from Malawi Finance Minister Simplex Chithyola Banda and the IMF Mission Chief. And we will look at President Trump saying that India offered to drop all tariffs on US goods, something India swiftly denied. Total airline revenue for ancillary services like baggage and seat selection is set to reach 145 billion according to the International Air Transport Association.
Yahoo
28-02-2025
- Business
- Yahoo
Malawi cuts 2025 growth forecast as inflation spurs street protests
BLANTYRE (Reuters) - Malawi's government has trimmed its economic growth forecast for this year, its annual budget showed on Friday, as disgruntled citizens protested in major cities over rising prices. The protesters are mostly street vendors who accuse the government of failing to control double-digit inflation, which they say is putting them out of business. As their demonstrations have spread from the capital Lilongwe to the main commercial city Blantyre they have been joined on the streets by jobless youths unhappy with President Lazarus Chakwera's government. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Finance Minister Simplex Chithyola Banda said in his budget speech that the donor-dependent Southern African country's economy was expected to grow 3.2% in 2025, down from a forecast of 4.0% given in December. Last year's growth was estimated at 1.8% because of the impact of a severe regional drought that dented agricultural output, the mainstay of the economy. Annual inflation was 28.5% in January, the latest month for which data is available. ($1 = 1,717.0200 kwacha)
Reuters
28-02-2025
- Business
- Reuters
Malawi cuts 2025 growth forecast as inflation spurs street protests
BLANTYRE, Feb 28 (Reuters) - Malawi's government has trimmed its economic growth forecast for this year, its annual budget showed on Friday, as disgruntled citizens protested in major cities over rising prices. The protesters are mostly street vendors who accuse the government of failing to control double-digit inflation, which they say is putting them out of business. As their demonstrations have spread from the capital Lilongwe to the main commercial city Blantyre they have been joined on the streets by jobless youths unhappy with President Lazarus Chakwera's government. Finance Minister Simplex Chithyola Banda said in his budget speech that the donor-dependent Southern African country's economy was expected to grow 3.2% in 2025, down from a forecast of 4.0% given in December. Last year's growth was estimated at 1.8% because of the impact of a severe regional drought that dented agricultural output, the mainstay of the economy. Annual inflation was 28.5% (MWCPIY=ECI), opens new tab in January, the latest month for which data is available. ($1 = 1,717.0200 kwacha)
