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The British Government has announced emergency budget support for the Government of Malawi.
Britain has announced emergency budget support for the Government of Malawi to help stabilise its economy and protect the poorst people.
Secretary of State for International Development Justine Greening said:
President Banda’s government has taken some tough but necessary decisions to stabilise the economy and create conditions where growth can flourish. In recognition of these efforts and the difficulties that Malawi is facing, the UK is providing emergency funds for this financial year.
It is vital Malawi stays on course with its reforms so that stability can be restored and the economy can thrive.
The UK also welcomed the continued progress on areas such as governance, human rights, and building international confidence through good management of public finances.
Protecting the poorest people
The Malawian Government has made a good start since President Banda came to power, and has already taken tough decisions to get the economy working again, such as floating the Kwacha (the Malawian currency). To help these reforms continue and minimise the impact on the poor, Britain is providing £20 million to the end of this financial year.
The emergency aid will be used to stabilise the economy and protect services for the poor. This includes helping the Malawian authorities to:
- keep markets working properly
- bring in vital imports
- protect spending for the poorest
- maintain fiscal discipline and not breach the budget.