The International Monetary Fund (IMF) has strengthened its confidence in the Jordanian economy as a result of government reforms despite the challenges that remain to adjust the reality of fiscal balances in a way that does not affect people's livelihoods after the country suffered from external shocks since the outbreak of the Corona epidemic in 2020.
Jordan and the IMF have agreed on a new $1.2 billion four-year reform program that would send a message of confidence to investors and help protect the economy from the negative impact of regional conflict. The Extended Fund Facility agreement remains subject to approval by the management of the donor IFC and its Executive Board and is scheduled to replace an existing program ending in early 2024.
According to the IMF, the program will continue to support Jordan as it "faces new shocks," with a focus on continuing fiscal consolidation to make public debt move towards a steady downward trajectory, as well as ensuring monetary and financial stability.
Source (Al-Arab Newspaper of London, Edited)
