Malawi’s economic recovery remains fragile due to the slow implementation of macroeconomic adjustment reforms and a series of recent shocks. Low growth and high inflation underscore Malawi’s economic vulnerability. GDP is expected to have grown by only 1.8% in 2024, a downward revision from 2.0% growth projected in April 2024. With the population growth rate at 2.6%, this marks the third straight year of declining GDP per capita. The El Niño-induced drought in early 2024 has adversely affected agricultural output, which is expected to have contracted by 2.0% in 2024. Inflation is gradually easing but remains high due to rising food, housing, and utility prices, as well as the rapid growth of the money supply. This is according to the Malawi Economic Monitor, 20^th Edition, The Rising Cost of Inaction with a special topic, Unlocking the Potential of Malawi’s Mining Sector.