IMF approves $88.3 mln for Malawi under 'food shock' loan window

The International Monetary Fund said its executive board on Monday approved an $88.3 million disbursement to Malawi under the new "food shock window" emergency lending facility launched in response to food price spikes and shortages caused by Russia's war in Ukraine.

The IMF also said the executive board assessed that a previously approved staff-monitored policy program for Malawi linked to the food shock loan is "sufficiently robust to meet the stated objectives" and was expected to build a track record for a more formal IMF loan arrangement.