Jordan Agrees $1.3 Billion IMF Programme

AMMAN, (UrduPoint / Pakistan Point News / WAM - 31st Jan, 2020) The Jordanian authorities and a team from the International Monetary Fund have reached a staff-level agreement on a 48-month arrangement under the Extended Fund Facility for around US$1.3 billion.

The agreement is subject to the IMF management approval and the Executive board consideration, which is expected in March, following the completion of agreed prior actions, according to an IMF statement.

Following the conclusion of discussions, Chris Jarvis, who led the IMF team, said, "The agreed economic program, to be supported by an arrangement under the EFF, will reinforce the authorities’ ambitious macroeconomic and structural reform agenda for the next four years an agenda underpinned by their five-year reform framework, which attracted significant support from the international community at the London Initiative in 2019.

The authorities’ programme aims at enhancing the conditions for more inclusive economic growth, particularly in light of the challenges posed by ongoing regional conflict and uncertainty. In this regard, the hosting of Syrian refugees is a testament to Jordan’s generosity and resilience. Donor support for this effort and for the program continues to be essential."