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Sustainability of external debt on Malawi’s import cover – Considerations for Malawi’s Vision 2063

Phiri Kampanje, Brian (2022): Sustainability of external debt on Malawi’s import cover – Considerations for Malawi’s Vision 2063.

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Abstract

Malawi is currently relying on external debt to cushion its forex reserves and support country’s import cover. This is unsustainable in medium to long-term and World Bank has already expressed concerns on this matter. Malawi’s debt stress levels are currently at high levels but the country is expected to borrow heavily from external sources to support bankable and flagship projects running from 2021 through 2030 under MIP-1 which is a ten-year medium strategy of Malawi’s Vision 2063. There is need to find reasonable export strategies to boost export proceeds but at the same time reduce massive illegal externalisation of forex to give MIP-1 a better chance of success.

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