{"id":75555,"date":"2019-03-13T10:19:50","date_gmt":"2019-03-13T08:19:50","guid":{"rendered":"http:\/\/www.times.mw\/?p=75555"},"modified":"2019-03-13T10:19:50","modified_gmt":"2019-03-13T08:19:50","slug":"goodall-explains-world-bank-k60-billion-delay","status":"publish","type":"post","link":"https:\/\/archive.times.mw\/index.php\/2019\/03\/13\/goodall-explains-world-bank-k60-billion-delay\/","title":{"rendered":"Goodall explains World Bank K60 billion delay"},"content":{"rendered":"<p><strong>By Taonga Sabola: <\/strong><\/p>\n<figure id=\"attachment_75556\" aria-describedby=\"caption-attachment-75556\" style=\"width: 300px\" class=\"wp-caption alignleft\"><a href=\"http:\/\/www.times.mw\/wp-content\/uploads\/2019\/03\/world-bank.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-75556\" src=\"http:\/\/www.times.mw\/wp-content\/uploads\/2019\/03\/world-bank-300x218.jpg\" alt=\"\" width=\"300\" height=\"218\" srcset=\"https:\/\/archive.times.mw\/wp-content\/uploads\/2019\/03\/world-bank-300x218.jpg 300w, https:\/\/archive.times.mw\/wp-content\/uploads\/2019\/03\/world-bank-278x202.jpg 278w, https:\/\/archive.times.mw\/wp-content\/uploads\/2019\/03\/world-bank-373x270.jpg 373w, https:\/\/archive.times.mw\/wp-content\/uploads\/2019\/03\/world-bank.jpg 502w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-75556\" class=\"wp-caption-text\">ELUSIVE\u2014World Bank<\/figcaption><\/figure>\n<p>Finance Minister Goodall Gondwe has explained the delays by the World Bank in disbursing K60 billion budgetary support to Malawi.<\/p>\n<p>The delays have thrown the 2018\/19 financial plan off-balance, resulting in Gondwe slashing the budget by K25.1 billion and suggesting a K50.5 billion increase in domestic borrowing this year.<\/p>\n<p>Treasury revised the budget downwards from K1.454 trillion to K1.429 trillion mainly on account of non-disbursement of budget support from the Breton Woods\u2019 institution.<\/p>\n<p>Gondwe told Parliament when he presented the mid-year budget statement in Lilongwe on Friday that the government expects the disbursement in next year\u2019s budget.<\/p>\n<p>He said the World Bank expects Capital Hill to implement recommendations of the functional review of Agricultural Development and Marketing Corporation (Admarc) among other conditions.<\/p>\n<blockquote><p><em>\u201cThey had asked us to do a review of Admarc, a thing we did and they now want us to implement the recommendations,\u201d<\/em> Gondwe told reporters after delivering the mid-year statement.<\/p><\/blockquote>\n<p>Among other things, the World Bank recommends that Admarc and other statutory corporations should not get bailouts from the State.<\/p>\n<p>At the time of budget formulation, the Treasury assumed a disbursement of K60 billion from the World Bank.<\/p>\n<p>However, Gondwe told Parliament that budgetary support would rather be channelled into the next fiscal plan covering 2019\/20 financial year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Taonga Sabola: Finance Minister Goodall Gondwe has explained the delays by the World Bank in disbursing K60 billion budgetary support to Malawi. The delays have thrown the 2018\/19 financial plan off-balance, resulting in Gondwe slashing the budget by K25.1 billion and suggesting a K50.5 billion increase in domestic borrowing this year. Treasury revised the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":75390,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-75555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/75555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=75555"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/75555\/revisions"}],"predecessor-version":[{"id":75557,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/75555\/revisions\/75557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/75390"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=75555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=75555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=75555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}