July 2020 Monthly Economic Review

Reserve Bank of Malawi

Monthly

Economic

Review

July 2020

Table of Contents
1.0	INTRODUCTION ......................................................................................................	1
1.1	Gross Official Reserves ..............................................................................................	1
1.2	Exchange Rates...........................................................................................................	1
1.3	Money Supply .............................................................................................................	1
1.4	Interest Rates ..............................................................................................................	1
1.5	Inflation .......................................................................................................................	1
2.0	EXTERNAL SECTOR ..............................................................................................	2
3.0	BANKING AND FINANCE ......................................................................................	4
4.0	CENTRAL GOVERNMENT BUDGETARY OPERATIONS ..............................	7
5.0	PRODUCTION AND PRICES .................................................................................	8
6.0	MONEY AND SECURITIES MARKET.................................................................	9
7.0	CAPITAL MARKETS.............................................................................................	13

LIST OF TABLES
Table 1: Money Supply and its Sources .............................................................................................	4
Table 2: Central Government Budgetary Operations .....................................................................	8
Table 3: Financial Market Operations ............................................................................................	10
Table 4: Treasury Bills Issuance and Maturity ..............................................................................	11
Table 5: Banking System Liquidity .................................................................................................	12
Table 6: Interest Rate Structure ......................................................................................................	13
Table 7: Selected Economic Indicators ............................................................................................	16
Table 8: Year on year Inflation ........................................................................................................	17
Table 9: National Consumer Price Indices ......................................................................................	18
Table 10: Selected Exchange Rates...................................................................................................	19
Table 11: Malawi All Share Index (1999=100) ................................................................................	20

GENERAL NOTES

This Economic Review is produced by the Reserve Bank of Malawi (RBM) with the aim of providing current economic information to stakeholders. The Review is expected to be published within six weeks after the end of the review month. This particular issue outlines domestic financial and macroeconomic developments during the month of July 2020.

Owing to the rounding up of figures, separate items may not always sum to corresponding totals. In the tables, the following symbols should be noted:

..	Means not available

• Means nil or less than one half the significant digit
  * Means projection
  + Means revised figure
  ^ Means preliminary figure

All queries relating to this publication should be forwarded to the Director, Economic Policy Research Department, Reserve Bank of Malawi, P.O. Box 30063, Capital City, Lilongwe 3. Tel: [phone]; or Fax [phone]; or Email: [e-mail].