The International Monetary Fund has approved a 91-million-dollar loan for Malawi to help fund a balance of payments deficit exacerbated by the COVID-19 pandemic. In a statement, IMF's deputy manager, Tao Zhang, said the COVID-19 pandemic is having a severe impact on Malawi, creating an urgent balance of payments need. According to the statement, the IMF said the authorities have been proactive in mitigating the impact of the pandemic, including through increased spending on health care and social assistance and ensuring food security through purchase and storage of agricultural harvests. The World Bank said last month it had approved a $37 million funding package to help Malawi respond to the coronavirus. --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices