Washington: IMF leader Kristalina Georgieva met with Malawi’s President Lazarus McCarthy Chakwera on Thursday and dedicated to offer toughen to the rustic, because it faces financial demanding situations and “unsustainable” public debt.

The federal government of the East African country has been in discussions with the Washington-based disaster lender for months on its request for an support program to assist stabilize the economic system.

Georgieva stated she had a “productive” dialogue with Chakwera “at the tricky financial state of affairs dealing with Malawi,” and expressed her “resolute toughen” for the rustic.

“I used to be inspired via the President’s unwavering dedication to forge forward with bold reform efforts to assist enhance the lives of the Malawian other people and to firmly repair macroeconomic steadiness, together with tackling unsustainable public debt,” she stated in a remark.

An IMF workforce is anticipated to talk over with the rustic “very quickly to talk about subsequent steps and discover choices to deal with Malawi’s fast financing wishes and toughen its reform program,” she added.

The fund tasks the rustic will see modest enlargement of two.2 p.c this yr, however inflation is drawing near 11 p.c, and the federal government faces a rising debt burden and a top possibility of debt misery.