(Ecofin Agency) - International Monetary Fund will resume its loan programme to Malawi after suspending a fund last year as due to a corruption scandal, Reuters reported on March 24, citing a member of government.

“The IMF has given us a green-light to the resumption of the programme which allows them to disburse about $30 million of the remainder of the $150 million,” said Malawi’s Minister of Finance, Goodall Gondwe.

“The advice we get from the IMF is very important because they provide a very valuable yardstick of how we can manage our economy,” he added.

In 2015, IMF cut financial aid to Malawi after millions of dollars of public funds were embezzled by high officials.

The institution recently estimated that Malawi’s GDP should grow by 3 to 4% in 2016 against 3% in 2015, indicating that the economy strongly relies on weather conditions.