Malawi - Ex Post Assessment of Longer-Term Program Engagement (Electronic book text)

1. Malaysia has been hit hard by the global downturn. The impact has been mostly through the trade channel but global financial market turbulence has also been felt. Exports have plunged, capital inflows have reversed, and local financial markets have experienced heightened volatility. The economy is now set to contract for the first time in ten years. Continued weakness in export demand and investor confidence weighs on the outlook.