Asim, SalmanRecord, RichardChilima, EfremKandoole, PriscillaKalemba, Sunganani2015-11-052015-11-052015-10https://hdl.handle.net/10986/22895The Malawi economic monitor (MEM) provides an analysis of economic and structural development issues in Malawi. The aim of the publication is to foster better informed policy analysis and debate regarding the key challenges that Malawi faces in its endeavors to achieve high rates of stable, inclusive, and sustainable economic growth. The focus of the special topic is on the effectiveness of public spending on primary education and the means by which this can be improved. With more than half of Malawi’s population under the age of 18, the country faces significant challenges in its efforts to provide quality education to a growing population of students. Malawi also faces ongoing fiscal pressures, so there is a need to find ways to maximize the development impact within the limits of the finite resources available for investment in education. The MEM consists of two parts: part one presents a review of recent economic developments and a macroeconomic outlook. Part two focuses in greater depth on a special, selected topic relevant to Malawi’s development prospects.en-USCC BY 3.0 IGOBANK LENDINGINTANGIBLEAUCTION SYSTEMGOVERNMENT SPENDINGNATURAL CAPITALEQUITYMACROECONOMIC INSTABILITYPUBLIC BUDGETSECURITIESGROSS DOMESTIC PRODUCTBANKING SYSTEMCOUPONSDEBT STOCKEXCHANGE RATESPENSIONINVESTINGPOVERTYECONOMIC DEVELOPMENTSEXPORTERSDEBT RELIEFFINANCIAL STABILITYFOREIGN EXCHANGE TRANSACTIONSINVESTMENTRESERVESNON-PERFORMING LOANSDEFICIT FINANCINGPUBLIC SPENDINGCURRENT ACCOUNT DEFICITRESERVE REQUIREMENTSDEPOSITFISCAL CONSTRAINTSCENTRAL BANKRETURNSFOREIGN CURRENCY EXPOSURECAPITAL ADEQUACYINTEREST RATEBANK RATECASH TRANSFERINVESTMENTSDOMESTIC BORROWINGOIL PRICECURRENCYCASH FLOWEXCHANGE RATECONTINGENT LIABILITYHUMAN CAPITALAGRICULTURAL COMMODITYPUBLIC FINANCEPUBLIC INVESTMENTMONETARY POLICYMONETARY FUNDFISCAL DEFICITSTREASURY BILL RATEGOVERNMENT DEBTEXPENDITUREGOODSLIQUIDITYACCOUNTINGPRIME LENDING RATESGOODCONTINGENCY PLANNINGFISCAL DISCIPLINERATE OF RETURNCAPITAL STOCKMATURITY PERIODSBENEFICIARIESLOCAL MARKETSBUDGETFISCAL DEFICITFOREIGN EXCHANGEINTERNAL FINANCINGMACROECONOMIC ENVIRONMENTDEFICITSGOVERNMENT BORROWINGMARKET PRICESCOMMERCIAL BANKSFIXED CAPITALINFLATIONARY EXPECTATIONSTREASURYEXCHANGEDEBTGLOBAL ECONOMYLOANCAPITAL INVESTMENTSCAPITAL FORMATIONINSTRUMENTINVESTMENT PROJECTSREAL INTERESTSTOCKSAUCTIONFINANCIAL SUPPORTBORROWING REQUIREMENTSINTERESTFOREIGN FINANCINGCONVERSIONLOCAL CURRENCIESNPLZERO COUPON BONDSBONDPUBLIC SECTOR DEBTINTERNATIONAL DEVELOPMENTDEVELOPING COUNTRIESFINANCIAL MANAGEMENTEXPORT PERFORMANCEBANKING SECTORCONSUMER PRICE INDEXFINANCEDEBT LEVELSDEBT SERVICESOCIAL CAPITALBUDGET DEFICITDISCOUNTTAXESEXCESS LIQUIDITYINFLATION RATESDISCOUNT RATESFOREIGN EXCHANGE MARKETSRESERVE REQUIREMENTRETURNS ON EQUITYOIL PRICESREPAYMENTPROFITSRISK MANAGEMENTFOREIGN CURRENCYREAL INTEREST RATESRESERVE BANKLENDINGMATURITYPURCHASING POWERINTEREST RATESCONTRACTINFLATION RATETRANSACTIONSRATES OF INFLATIONEXPENDITURESLEVEL OF DEBTDOMESTIC CURRENCYTRADINGDOMESTIC MARKETFINANCIAL INSTITUTIONFOREIGN EXCHANGE RESERVESBOND HOLDERSAMORTIZATIONINFLATIONSETTLEMENTFINANCING REQUIREMENTSSHAREINVESTMENT CLIMATEDEFICITPRIME LENDING RATECREDITORSINFLATIONARY PRESSURESCOUPONBORROWERSTREASURY BILLSAFETY NETSFOREIGN CURRENCY DEBTPENSIONSCOMMERCIAL LOANSDEBT SERVICINGMARKET TRADINGNON-PERFORMING LOANFUTURETRADE SECTORSCREDIT QUALITYPENSION SYSTEMINVESTOR CONFIDENCERETURNTRANSACTIONCURRENCIESFISCAL POLICYZERO COUPONARREARSBONDSTREASURY BILLSEXTERNAL DEBTREPAYMENT PERIODREVENUECOMMODITY PRICESBORROWING REQUIREMENTSTOCKDEBT SWAPNATIONAL SAVINGSINFORMATION SYSTEMGOVERNMENT EXPENDITURECOMMODITY PRICESWAPLIABILITYLOANSTAXDEPOSITSMARKETSAVINGS BANKMARKETSCOUPON BONDSLOCAL CURRENCYINCOME TAXPROMISSORY NOTESAGRICULTURAL COMMODITIESPUBLIC SECTOR BORROWINGPUBLIC DEBTGLOBAL MARKETSLABOR MARKETSECURITYINTEREST PAYMENTSINVESTMENT PURPOSESRECURRENT EXPENDITURERESERVEDOMESTIC MARKETSBANKING SECTOR ASSETSCOMMERCIAL BANKINGCREDIT RISKNATIONAL SAVINGREVENUESBUDGETINGDEBTSDISBURSEMENTDOMESTIC DEBTINVESTORHUMAN DEVELOPMENTISSUANCEReportWorld Bank10.1596/22895