IMF reaches deal with Malawi for $88m emergency funding ...Middle East

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IMF reaches deal with Malawi for $88m emergency funding
source : Daily Sun ( Middle East ) () 17
WASHINGTON: The IMF said Friday that it reached a staff-level agreement with Malawi for up to $88.3 million in emergency funding to tackle food crisis needs, making this the first low-income country to reach such a deal.The disbursement comes under the International Monetary Fund's Food Shock Window, a new emergency lending facility to help countries struggling with acute food insecurity as prices rise globally.The facility, approved in September, comes as countries grapple with climate shocks, conflict and fallout from the Covid-19 pandemic -- which have disrupted food production and distribution.“This emergency financing... will help Malawi address urgent balance of payments needs related

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