Govt submits report on ‘doctored’ forex situation in Malawi

Government has finally submitted to the IMF an audit report on foreign exchange misrepresentation committed under the DPP regime.

The Ministry of Finance engaged auditors Ernst and Young to do the audit which determines the extent of falsification of figures.

Last year, the IMF expressed concerned about the case which also led to the cancellation of the extended credit facility.

Meanwhile Sosten Gwengwe, minister of finance confirmed to MIJ Online that the audit report has been presented to the board of IMF, that is expected to discuss the report on18th July ,2022.

Malawi is currently in talks with the IMF over the resumption of the program.

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