Malawi's Extended Credit Facility with IMF Lapses Indefinitely Amid Economic Challenges Malawi’s IMF Extended Credit Facility (ECF) has lapsed due to external shocks, including Cyclone Freddy (2023) and El Niño droughts (2024). The pause allows post-September 2025 election negotiations for a new program. The ECF’s 2023 approval marked a milestone—President Lazarus Chakwera hailed it as restoring IMF ties after a decade-long hiatus, blaming the gap on Cashgate scandals and fiscal mismanagement un