No open-access location is known for this record yet.
No open-access location is known for this record yet.
The International Monetary Fund's (IMF) recent decision to withhold its latest loan money to the Malawian government could have dire implications for the provision of health care in the country. In response to the loan freeze, Malawi has put on hold the hiring of 51 medical graduates and a host of nurses and health professionals to cut its burgeoning wage bill. The IMF is holding back a US$20 million disbursement of the US$150 million loan facility it has with Malawi because the country failed to meet some of the loan conditions. This was partly due to overspending on the wage bill but it was also exacerbated by revenue and external financing shortfalls. The extended credit facility is the fund's tool to lend at zero interest to low-income countries. It is not the first time that Malawi's funding has been withheld. In October 2013, after it was discovered that US$45 million in public funds had been stolen, donors also withdrew funding. Donor funding used to account for as much as 40% of the country's budget.
Loading…
Imported from OpenAlex (CC0) — nothing here is generated.