Among other aspects IMF said the country needs to put in place mechanisms that will enhance resilience against climatic shocks and should sustain reforms on governance.

IMF lays bare these points as the country is in the process of developing a a successor plan to Vision 2020.

In an interview with one of the local papers, IMF’s Country Representative, Farayi Gwenhamo said Government and key stakeholders need to identify impediments to economic growth.

“The growth in Gross National Income (GNI) per capita has fallen far too short of the level needed to realise the outputs of the blueprint such as making Malawi a middle income country come 2020,” said Gwenhamo.

“Figures provided indicate a current GNI of K263, 487.13 ($360) as per 2018 records is far below the requirement to become a middle income country. Going forward, maintenance of macroeconomic stability will remain important for the country. Vision 2020 aspirations remains relevant and requires radical review,” said Gwenhamo.

Some key stakeholders like the National Planning Commission (NPC) observe that going forward the country requires a paradigm shift to move from poverty reduction to ‘spearheading wealth creation for all’.

NPC Director General  Thomas Munthali said the new narrative should be beyond survival modes to higher wealth levels.

He said: “With some modifications, Vision 2020 remains relevant and will remain so for generations to come. The commission therefore proposes to have a long-term development plan based on a defined development philosophy.”