Malawi: Recent Economic Developments

International Monetary Fund

No 1996/068, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper describes economic developments in Malawi during the 1990s. Malawi’s economy began to deteriorate in late 1991 as a result of a series of exogenous shocks. These shocks included two major droughts, a severe weakening in the terms of trade, and a suspension of donor nonhumanitarian aid owing to concern over governance. As a consequence, the average real GDP growth fell from 6 percent a year in 1989–91 to -3 percent a year in 1992–94. Savings and investment also fell considerably.

Keywords: ISCR; CR; Malawi kwacha; net profit; debt service; exchange rate; U.S. dollar; foreign currency; balance of payments; Exports; Imports; Credit; Africa (search for similar items in EconPapers)
Pages: 76
Date: 1996-08-26
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