Malawi: World Bank holds back $40 million

The World Bank is holding back $40 million in budget support to Malawi because the country hasn’t completed the review of its program with the International Monetary Fund, the Daily Times reported, citing the bank’s country manager. The lender is waiting for a review of reforms to help address persistent external economic imbalances, the Blantyre - based newspaper cited Sandra Bloemenkamp, the World Bank’s manager for Malawi, as saying. The money is for the budget for the fiscal year through June.