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Malawi.

Author: International Monetary Fund African Dept
Publisher: Washington : International Monetary Fund, 2014.
Series: IMF Staff Country Reports.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
EXECUTIVE SUMMARYDonors have suspended some aid disbursements to Malawi in response to a scandalinvolving the theft of public funds. A group of public servants exploited weaknesses in thecontrol environment of the government's Integrated Financial Management Information System(IFMIS) to make fraudulent payments to several entities that had not provided any goods orservices to the government. The authorities are  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: International Monetary Fund African Dept
ISBN: 9781475574968 1475574967 9781484305461 1484305469 1475573049 9781475573046
OCLC Number: 871781769
Description: 1 online resource (116 pages).
Contents: Cover; CONTENTS; CONTEXT; A. Fiscal Scandal and its Aftermath; RECENT DEVELOPMENTS AND PROGRAM IMPLEMENTATION; A. Recent Economic Developments; BOXES; 1. Cashgate Accountability; B. Performance under the Program; MACROECONOMIC OUTLOOK AND RISKS; POLICY DISCUSSIONS; A. Preserving the Objectives of the 2014/15 Budget and Mitigating Risks; B. Strengthening PFM Systems in the Wake of the Cashgate Scandal; C. Reining in Inflation and Stabilizing Expectations; 2. Public Financial Management Strategy; D. Safeguarding Financial Sector Soundness; E. Preserving Debt Sustainability; PROGRAM ISSUES. STAFF APPRAISALFIGURES; 1. Recent Developments, 2009-15; 2. Monetary Developments, 2011-November 2014; 3. Fiscal Developments, 2009-14; 4. Banking Soundness Indicators: Malawi Relative to its Neighbors, 2010-14 (Percent); TABLES; 1. Selected Economic Indicators, 2011-17; 2a. Central Government Operations: 2011/12-2017/18 (Billions of Kwacha); 2b. Central Government Operations: 2011/12-2017/18 (Percent of GDP); 2c. Central Government Operations: 2014/15 and 2015/16 (Billions of Kwacha); 3a. Monetary Authorities' Survey, 2012-17(Billions of Kwacha, unless otherwise indicated). 3b. Monetary Survey, 2012-17 (Billions of Kwacha, unless otherwise indicated)4a. Balance of Payments, 2011-17 (US millions, unless otherwise indicated); 4b. Balance of Payments, 2011-17 (Percent of GDP); 5. Selected Banking Soundness Indicators, 2010-14 (Percent); 6. External Financing Requirement and Source, 2011-17 (In millions of US dollars); 7a. Previous Schedule of Disbursements under ECF Arrangement, 2012-15 (Millions of SDR); 7b. Proposed new Schedule of Disbursements under ECF Arrangement, 2012-16 (Millions of SDR); 8. Indicators of Capacity to Repay the Fund, 2015-26. 9. Quantitative Targets 201310. Quantitative Targets, 2014; 11. Informal Quantitative Targets; 12. Quantitative Targets, 2015; 13. Structural Benchmarks set at the time of the Third and Fourth Reviews; 14. Prior Actions; 15. Structural Benchmarks, 2015; APPENDICES; I. Progress in Implementing the Government's Short-Term Action Plan; II. Letter of Intent; Attachment I. Memorandum on Economic and Financial Policies for the Fifth and Sixth Reviews under the ECF Arrangement; Attachment II. Technical Memorandum of Understanding; CONTENTS; RELATIONS WITH THE FUND; JOINT MANAGERIAL ACTION PLAN.
Series Title: IMF Staff Country Reports.

Abstract:

EXECUTIVE SUMMARYDonors have suspended some aid disbursements to Malawi in response to a scandalinvolving the theft of public funds. A group of public servants exploited weaknesses in thecontrol environment of the government's Integrated Financial Management Information System(IFMIS) to make fraudulent payments to several entities that had not provided any goods orservices to the government. The authorities are implementing an Action Plan of remedialmeasures to prevent the recurrence of the fraud. Key elements of the action plan includestrengthening security and management of IFMIS, a forensic.

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