Malawi's claims on central government (annual growth as % of broad money) was 49.15% in 2024, the latest year in the World Bank's World Development Indicators. That is up 60.85 percentage points from -11.7% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 49.15% | 2024 |
| Five years earlier | -3.64% | 2019 |
| Ten years earlier | -11.7% | 2014 |
| Highest | 74.25% | 2008 |
| Lowest | -28.69% | 1998 |
| Average since 2015 | 27.74% | 2015–2024 |
| First recorded | 10.48% | 1966 |
What the numbers say
In 2024, Malawi's claims on central government (annual growth as % of broad money) rose 2.55 percentage points on 2023 (from 46.6% to 49.15%).
Across the 30 yearly changes before that (1994 to 2023), the average change was +1.02 percentage points and a typical year strayed about 25.52 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 72.6 percentage points in 2008 and the biggest yearly fall was 53.06 percentage points in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 29% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Malawi had the 1st highest value of the 22 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Malawi in the 2024 ranking
- Iraq — 2nd of 22: 9.2%
- Madagascar — 3rd of 22: 6.1%
- Gambia, The — 4th of 22: 5.42%
What this measures
Claims on central government include loans to central government institutions net of deposits. Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. This indicator represents the annual percentage growth in the ratio of claims to broad money.
Limitations: Monetary accounts are derived from the balance sheets of financial institutions - the central bank, commercial banks, and nonbank financial intermediaries. Although these balance sheets are usually reliable, they are subject to errors of classification, valuation, and timing and to differences in accounting practices. For example, whether interest income is recorded on an accrual or a cash basis can make a substantial difference, as can the treatment of nonperforming assets. Valuation errors typically arise for foreign exchange transactions, particularly in countries with flexible exchange rates or in countries that have undergone currency devaluation during the reporting period.
All 59 values
| Year | Claims on central government (annual growth as % of broad money) |
|---|---|
| 2024 | 49.15 |
| 2023 | 46.6 |
| 2022 | 38.25 |
| 2021 | 41.92 |
| 2020 | 20.93 |
| 2019 | -3.64 |
| 2018 | 2.76 |
| 2017 | 22.59 |
| 2016 | 30.3 |
| 2015 | 28.52 |
| 2014 |
Claims on central government (annual growth as % of broad money) in nearby economies
- Angola — 17.07% (2025)
- Benin — 2.96% (2025)
- Botswana — 6.78% (2025)
- Burkina Faso — 6.66% (2025)
- Burundi — 6.45% (2025)
- Cabo Verde — -2.63% (2025)
- Cameroon — 5.42% (2019)
- Central African Republic — 7.32% (2022)
- Chad
More financial sector data for Malawi
- DEC alternative conversion factor (LCU per US$) — US$1,751 (2025)
- Official exchange rate (LCU per US$, period average) — US$1,161 (2023)
- Net domestic credit (current LCU) — 7.84 trillion (2024)
- Net foreign assets (current LCU) — -1.65 trillion (2024)
- Broad money (current LCU) — 5.34 trillion (2024)
- Claims on private sector (annual growth as % of broad money) — 9.6% (2024)
- Broad money (annual % growth) — 45.13% (2024)
- Broad money to total reserves ratio — 3.46 (2020)
- Consumer price index (2010 = 100) — 1,313 (2025)
- Lending interest rate (%)
Reading data like this
Questions people ask
- What is Malawi's claims on central government (annual growth as % of broad money)?
- 49.15% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1966?
- It is up 38.68 percentage points from 10.48% in 1966. The highest value was 74.25% in 2008 and the lowest -28.69% in 1998.
- How does Malawi rank?
- 1st highest of 22 economies with data for 2024.
- Is the latest change in claims on central government (annual growth as % of broad money) unusual for Malawi?
- In 2024, Malawi's claims on central government (annual growth as % of broad money) rose 2.55 percentage points on 2023 (from 46.6% to 49.15%). Across the 30 yearly changes before that (1994 to 2023), the average change was +1.02 percentage points and a typical year strayed about 25.52 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator FM.AST.CGOV.ZG.M3, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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