By Linda Kwanjana
Malawi President Dr. Lazarus McCarthy Chakwera, who left Malawi for Ghana on Saturday and arrived same day, has started business in Accra on high note.
Soon after his arrival the President met with a delegation from the African Export-Import Bank (Afreximbank) led by Board Chairman Prof. Benedict Oramah on the sidelines of the 30th Afreximbank Annual Meetings taking place in Accra, Ghana from 17 to 21 June 2023.
President Chakwera’s visit to Ghana comes at the invitation of the Afreximbank, who have paid all the President’s travel expenses, furnishing both air transportation and accommodations.
The meeting was held to discuss the repaying the debt that was incurred by DPP administration before the country can be deemed eligible for the Extended Credit Facility (ECF).
The country is currently in talks with international lenders to restructure as much as $1 billion of debt as it seeks an economic program from the International Monetary Fund1
A significant portion of the external debt with which the country is currently contending originates from Afreximbank and the Chinese Government.
Former regime led by Peter Mutharika took these loans with the Bank in order to close the balance of payment gaps so that the books looks cleaner.
