The Minister of Finance Goodall Gondwe has said time has come for Malawi to fetch for itself as donors are still not showing signs of resuming aid to the country.
Speaking in Lilongwe at the opening of the financial literacy week organised by the Reserve Bank of Malawi, Goodall Gondwe said donors have made their position known when it comes to releasing aid to Malawi.
“They have given as enough signs that they are not coming anysooner and for that Malawians have to atleast try to provide for themselves,” he appealed.
Malawi has relied heavily on foreign aid since independence. Aid came with stronger conditions for economic and democratic governance following multiparty reform in 1994 and donors have multiple times since shown a willingness to withdraw aid when these conditions are unmet.
In the wake of the recent Cashgate scandal, many foreign donors suspended aid to Malawi.
Donors under the Common Approach to Budget Support (CABS ) announced after its review meeting in November 2013 that it was going to delay aid to Malawi; the decision followed similar announcements from the European Union, the UK’s DfID, and Norway. In total, it is estimated that because of Cashgate, $150 million in aid that was committed to Malawi is not being disbursed.