Malawi Malawi Background Established in 1891, the British protectorate of Nyasaland became the independent nation of Malawi in 1964. After three decades of one-party rule, the country held multiparty elections in 1994 under a provisional constitution, which took full effect the following year. National multiparty elections were held again in 1999. Malawi Economy Landlocked Malawi ranks among the world's least developed countries. The economy is predominately agricultural, with about 90% of the population living in rural areas. Agriculture accounted for nearly 40% of GDP and 88% of export revenues in 2001. The economy depends on substantial inflows of economic assistance from the IMF, the World Bank, and individual donor nations. In late 2000, Malawi was approved for relief under the Heavily Indebted Poor Countries (HIPC) program. In November 2002 the World Bank approved a $50 million drought recovery package, which is to be used for famine relief. The government faces strong challenges, e.g., to fully develop a market economy, to improve educational facilities, to face up to environmental problems, to deal with the rapidly growing problem of HIV/AIDS, and to satisfy foreign donors that fiscal discipline is being tightened. The performance of the tobacco sector is key to short-term growth as tobacco accounts for over 50% of exports. Malawi Location Southern Africa, east of Zambia Malawi Flag three equal horizontal bands of black (top), red, and green with a radiant, rising, red sun centered in the black band
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