By Staff Reporter
Malawi leader, President Chakwera has left Accra, Ghana through Kotoka International Airport enroute to Lilongwe, after he successfully held discussion with African Export-Import Bank (Afreximbank) on debt restructuring.
He was courteously seen off by a delegation of Ghanaian government officials, including High Commissioner to Malawi Khadija Iddrisu.
During his meeting with Afreximbank President and Board Chairman Prof Benedict Oramah, Chakwera urged the Africa’s leading financial institution to consider a debt restructuring plan that would allow Malawi to secure the International Monetary Fund’s (IMF) Extended Credit Facility (ECF).
Oramah, accompanied by Afreximbank Executive Vice President Kanayo Awani and some members of the management team, expressed solidarity with Malawi’s pursuit of the debt restructuring mechanism to secure the ECF.
President Chakwera was invited to participate in the 30th Afreximbank Annual Meetings.
The bank graciously underwritten the President’s travel expenses, furnishing both air transportation and accommodations.
President Chakwera’s journey has fulfilled assurances he previously made to the International Monetary Fund (IMF) team that he would personally engage with the bank to devise a debt repayment plan.
The IMF is keen to ascertain how the country intends to sustainably restructure its debt – a legacy bequeathed by the previous Democratic Progressive Party (DPP) government – before it can be deemed eligible for the ECF.
A significant portion of the external debt with which the country is currently contending originates from Afreximbank and the Chinese government.
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