Malawi - Memorandum on the economy

Report No. 1677a-MAI -n Mem.orandum on the MLG Eco~~r,omy o -f , Aal-%A .1; September 30, 1977 Country Programs Department li Eastern Africa Region FOR OFFICIAL USE ONLY Document of the World Bank This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  Currency Unit: Kwacha; 1 Kwacha = 100 tambala Exchar.ge Rate 1 Kwacha US$ = US$ = 1 Kwacha Average 1972 1.2396 0.8067 A-verage 1973I L.2 0.8 O164 Average 1974 1.1908 0.8398 Average 1975 1.154i5 V0.8662 Average 1976 1.0953 0.9130 July l9ii 1. 114 0.8099 Fiscal Year April 1 - March 31 Weights and Measures 1 kilometer 0.62 mile 1 square kilometer - 0.3861 square mile 1 hectare = 2.47 acres 1 metric ton = 1.102 short ton = 0.984 long ton 1 kilogram = 2.205 pounds  FOR OF-NICiAL USE ONLY TABLE OF CONTENTS Page No. ECONOMIC INDICGATORS MAPS SIUMMARY ANf CON(LUTSONS-, = i-i I. T HE SETTING-. IT. DEVELOPMENT OBJECTIVES, ACHIEVEMFNTS AND STRUCTURAL CONSTRAINTS .I A. Objectives .1 B. Achievemernts- , ,5 C. Constraints. 5 III. RECENT ECONOMIC DEVELOPMENTS .. 8 A. Summary of Recent Developments. 8 B. Gow+-th u C. ~ I. .ml y e t.. ......................................... .................. 12 C. Employment .an a ................................... 12 E. Estmena ance ................................. a16a E. External Finance ..................................... 16 U- ~ V.JV LLILUVLLL *