AMMAN —
Jordan and the
UAE have agreed to transfer an Emirati deposit of $333 million
deposit at the
Central Bank of Jordan into a soft loan in light of the rise in
interest rates globally, an official source at the Ministry of Finance said,
according to the Jordan News Agency, Petra.
اضافة اعلان
This agreement
comes in light of the UAE’s support for Jordan.
The
Jordanian government succeeded in issuing Eurobonds worth $650 million at a coupon price
of 7.75 percent, maturing after five and a half years. This indicates the
confidence of investors and international institutions in the Jordanian economy
despite the instability in global financial markets and high interest rates.
The official source also
stated that proceeds from the UAE loan and the Eurobond issuance will be used
to extinguish a $1 billion Eurobond loan which will mature at the end of this
month. By doing so the government will avoid increasing the public debt balance
since this latest round of funding is within the state budget for 2022.
Read more Business
Jordan News
.jpg)
.jpg)
