Norway for effective Ifmis utilisation

The Royal Norwegian Embassy says prudent utilisation of the Integrated Financial Management Information System (Ifmis) is critical to reducing wastage of public resources and enhancing systems to develop the country’s economy.

Speaking on Wednesday during a meeting with Minister of Finance and Economic Affairs Simplex Chithyola Banda in Lilongwe, Norwegian Ambassador Ingrid Marie Mikelson said Ifmis helps to control expenditure in government; hence, enhancing accountability and transparency in public funds management.

She said: “The economic gains made in the last three months accruing from qualification of the International Monetary Fund [IMF] Extended Credit Facility need to be guarded jealously through effective utilisation of the Ifmis.

“Ifmis helps with procurement and financial controls thereby consolidating macroeconomic stability. Ifmis are systems that will support management of public sector budgetary, financial and accounting operations and promote better public financial management [PFM] with a centralised registry of public sector revenues and expenditures.”

Mikelson said Norwegians are, among others, participating in Mpatamanga Hydropower Project and commended Malawi for taking tough policy decisions that have secured the ECF programme.

In his remarks, Chithyola Banda said macroeconomic stability is fundamental for economic development in the country.

He said: “We know macroeconomic stability will be achieved through strict fiscal discipline and expenditure control apart from effective Ifmis utilisation. 

“Government is fully committed to adhering to the ECF requirements by making sure every ministry, department and agency operate under it.”