Minister of Finance, Economic Planning and Decentralisation Joseph Mwanamvekha has dismissed Leader of Opposition in Parliament Simplex Chithyola Banda’s claims that the new administration has secured an Extended Credit Facility (ECF) with the International Monetary Fund (IMF).
The minister made the statement in Parliament yesterday in reaction to Chithyola Banda’s sentiments made during an official response to President Peter Mutharika’s State Opening Address to the 52nd Session of Parliament delivered last Friday.
Mwanamvekha insisted that no agreement exists with the IMF yet.
He said: “They are coming for what we are calling a scoping mission. There is no agreement. They have just come to understand the situation on the ground as we speak now and then.
“From there, we will discuss, and we will see whether we should be going discussing the ECF programme, or we can go into what we call a Staff Monitored Programme.”
Mwanamvekha accused the opposition of politicising the issue, stressing that any IMF programme Malawi agrees to will benefit citizens.
“I strongly believe that he [Chithyola Banda] has brought that issue on the floor for political reasons, because as MCP, and also as the minister of Finance, he failed to manage the ECF programme, so he is doing that to maybe to defeat us from doing what we’re supposed to do and purely, to me, is politics.”
Chithyola Banda, a former minister of Finance in the past administration, queried whether the governing Democratic Progressive Party (DPP) has a credible economic recovery plan and demanded clarity on IMF negotiations, agreed prior actions and structural benchmarks.
“The people of Malawi are not interested in rhetoric—they demand results,” he told Parliament, warning that promises such as free secondary education, K5 billion constituency funds and subsidies could conflict with fiscal realities.
Chithyola Banda also faulted the government policy in key sectors, citing persistent blackouts, costly fuel imports under the open tender system and controversial maize procurement, which he said risk repeating past “fuelgate” and “maizegate” scandals. Further, he condemned what he termed as politically-motivated dismissals and detentions, warning that Malawi risks sliding into a police state.
Responding to the President’s address, UTM Party leader in the House Patricia Kaliati echoed some of Chithyola’s concerns, focusing on social programmes and agricultural issues.
She highlighted the need for sustainable funding strategies to close gaps in the implementation of youth and women empowerment programmes, Constituency Development Fund (CDF), and free secondary education.
Kaliati also stressed the importance of electricity and fuel access, arguing that proper monitoring and management of Malawi’s mining sector could generate resources to support these programmes.
Zomba City North member of Parliament Bester Awali (DPP), who moved a motion on the President’s address, commended Mutharika’s leadership and Cabinet appointments.
This is the First Meeting of the 52nd Session of Parliament and the main focus will be the Mid-Year Budget Review.
