The International Monetary Fund (IMF) backed Reserve Bank of Malawi’s 5% inflation rate target, stating the target as attainable in the medium term, if the country does not slacken on the economic gains registered in the recent past.

“Every five years, you see inflation changes because of elections. This year, we have a window of opportunity because, even after the elections, we have seen inflation in single digit despite the unfavourable dynamics,” said IMF Country Representative, Jack Ree.

During the Monetary Policy Committee meeting in January, RBM governor Dalitso Kabambe said favorable weather conditions would result to higher agricultural output, which will be one of the factors contributing to a low inflation rate at the end of 2019.