News Column

Government Has Not Dumped ERP - Gondwe

July 6, 2014

Sse Nyirenda

Government says a news article which appeared in the Daily Times of June 30, 2014 suggesting that the current Government has dumped the Economic Recovery Plan (EPR) is not true.

Minister of Finance, Economic Planning and Development, Dr Goodal Gondwe said this during a Media briefing at Parliament in Lilongwe on Friday.

Gondwe told the media that the article had misrepresented what he said.

"The reports that we have dumped the ERP instituted by the previous government are not true. I was asked to comment on the ERP and what I did say is that a number of parts, the most important one is that of borrowing has not worked," he said.

He said the floating rate and interest rate and a number of other short-term programs are prescribed by the International Monetary Fund (IMF) and help in making good, sound economic management and do not belong to a particular party which the current government would follow.

He however said they were some areas in the ERP which did not work and that the current government would discontinue them.

"We will take the parts of that program which are good and we will continue with them, but those that are not like the over borrowing which has taken place, will not be followed," he said.

Gondwe was speaking at the end of the first meeting of the 45th session of parliament in Lilongwe, on July 4, 2014.

Parliament has since adjourned sine die.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AllAfrica

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters