The International Monetary Fund (IMF) says Malawi’s economy is likely to expand by 4.5% this year due to a rise in agricultural production.

The growth projection is down slightly from the IMF March forecast of a 5% expansion to gross domestic product.

Earlier in September the country’s finance ministry said growth would advance 5%, up from 4% growth in 2018.

“Over the medium term, growth could rise further to 6-7%, backed by greater access to finance, crop diversification, an improved business climate and more resilient infrastructure, including improved electricity generation,” the IMF said in a statement.

It would be recalled that In April 2018, the IMF granted Malawi a $112 million credit facility to help the country to stabilise its debt.