In a new indication of the resilience of Jordan’s national economy and its ability to navigate regional challenges, the International Monetary Fund (IMF) announced that its staff and the Jordanian government had reached a staff-level agreement on the sixth review of the economic reform programme supported by the Extended Fund Facility (EFF), and the third review under the Resilience and Sustainability Facility (RSF).
The agreement would enable Jordan to secure total financing of approximately $294 million, subject to completion of the required procedures and approval by the IMF management and Executive Board.
While the IMF’s assessment highlighted the Jordanian economy’s continued resilience and ability to maintain stability, economic experts said the agreement reflected the effectiveness of the country’s economic and monetary policies and structural reforms.
They added that it demonstrated the ability of national institutions to manage the economic consequences of crises and geopolitical disruptions, strengthening international financial institutions’ confidence in Jordan’s economy.
Speaking to Al-Ghad, the experts said the successful completion of both reviews, accompanied by positive assessments of economic performance, reflected Jordan’s ability to continue its economic reform programme despite exceptional regional circumstances and the resulting pressures on energy, trade, transportation and supply chains.
They noted that continued economic activity and positive growth rates, alongside the strength of the banking sector, monetary stability, and improved performance in manufacturing and exports, were key factors enabling the national economy to absorb shocks and maintain balance.
They also highlighted Jordan’s growing role in transportation, logistics and supply services, particularly through the Port of Aqaba, which has strengthened the Kingdom’s position as a regional hub for commercial and logistical services and created additional opportunities amid changes in regional trade routes and supply chains.
The experts stressed that the agreement’s significance extends beyond the direct financing allocated under the two programmes. It also strengthens confidence among international financial institutions, donors and investors, improves access to financing and provides a supportive environment for implementing strategic projects.
These developments are expected to contribute to economic growth, job creation and public finance sustainability in the coming period, particularly in 2027.
Successful Reviews Reflect Economic Resilience
The IMF announced on Monday that its staff and the Jordanian government had reached a staff-level agreement on the sixth review of the Extended Fund Facility programme and the third review under the Resilience and Sustainability Facility.
The agreement would allow Jordan to receive approximately $294 million once both reviews are completed and approved by the Fund’s management and Executive Board.
In a statement issued at the conclusion of the IMF mission’s visit to Amman from October 21 to November 3, 2026, the Fund’s mission chief to Jordan, César Serra, said the country’s economic programme continued to perform strongly despite ongoing challenges and heightened uncertainty resulting from the prolonged war in the Middle East.
Serra explained that Jordan had met all quantitative performance criteria and most structural benchmarks under the sixth review, while making steady progress towards achieving the programme’s overall objectives.
He added that the three reform measures required under the third review of the Resilience and Sustainability Facility were progressing according to the agreed timetable.
Completion of the sixth EFF review would enable the disbursement of 97.784 million Special Drawing Rights (SDRs), equivalent to approximately $133 million, from the programme’s total approved financing of around $1.2 billion.
Meanwhile, completion of the third RSF review would allow the disbursement of 118.764 million SDRs, equivalent to approximately $161 million, from the total approved financing of around $700 million.
The IMF also confirmed that Jordan’s economy had continued to demonstrate resilience, supported by the authorities’ commitment to prudent macroeconomic policies, proactive measures to mitigate the impact of regional conflict and strong support from international partners.
The Fund noted that the war had affected Jordan’s economy through lower tourism inflows, higher trade and transportation costs, weaker foreign direct investment and increased volatility in energy prices. However, the economic impact of these challenges had largely been offset so far.
The IMF attributed the continuation of economic activity to strong manufacturing performance, significant growth in transportation and logistics services linked to the Port of Aqaba’s expanding role as a regional trade and transport hub, a favourable agricultural season, remittances from Jordanians working abroad and stronger-than-expected regional tourism.
The Fund also said the Central Bank of Jordan had continued to strengthen its foreign reserves and maintain comfortable reserve coverage levels above programme targets.
Together with prudent monetary and fiscal policies, these measures had helped preserve confidence in the Jordanian dinar and its peg to the US dollar, while contributing to a decline in dollarisation.
The IMF described Jordan’s banking sector as resilient, with ample liquidity and strong capital buffers. However, it cautioned that the near-term economic outlook remained highly dependent on the duration and intensity of the war and the continuation of its regional repercussions.
Economic Experience Strengthens Crisis Management
Former Minister of State for Economic Affairs Yousef Mansour said the agreement on the sixth EFF review and third RSF review reflected the results of economic and regulatory reforms implemented by the government in recent months, alongside continued efforts to develop governance and digitalisation systems.
Mansour explained that the IMF’s positive assessment of the national economy reflected the government’s economic management policies, particularly its continued implementation of major projects in transportation, energy and water. These projects had supported economic activity and improved several indicators during the current year, including growth rates.
He noted that Jordan had accumulated considerable experience in managing regional challenges and containing their economic consequences.
Proactive measures taken by the government from the early days of the war had helped strengthen the national economy’s resilience against increases in global prices and maintain inflation at relatively stable levels of around 2.5%.
Mansour added that the successful completion of the IMF reviews, together with its positive assessment of economic performance, would strengthen confidence among international institutions, donors and investors and support the sustainability of economic activity in the coming period.
He said improved confidence in the national economy could positively influence economic expectations among citizens and investors, support consumption and economic activity, and contribute to better overall economic indicators.
Banking Sector Remains a Pillar of Economic Stability
Maher Al-Mahrouq, Director General of the Association of Banks in Jordan, said the IMF’s completion of two reviews with the Jordanian government, alongside positive assessments of the national economy amid complex geopolitical conditions and heightened uncertainty, demonstrated the economy’s ability to maintain stability and strengthen confidence among domestic and international institutions.
Al-Mahrouq said the significance of the IMF’s positive assessment lay partly in its timing and the circumstances under which it was issued. It reflected the stability of national economic institutions and the effectiveness of policies and measures that helped limit the impact of the regional war over the past year, including its effects on global energy, food and shipping prices.
He added that a significant part of Jordan’s economic resilience stemmed from prudent monetary policies and sound banking sector management, which had helped preserve financial and monetary stability and sustain activity across various economic sectors.
The banking sector, he said, was a fundamental pillar of economic activity because of its direct links with different industries and its role in providing the financing and banking services required to sustain business operations and investment.
This, he added, strengthens the national economy’s ability to cope with exceptional circumstances.
Economic Resilience Boosts Investment and Financing Confidence
Economic expert Eyad Abu Haltam said indicators recorded by Jordan in recent years reflected the strength of the national economy and its ability to withstand shocks and absorb the consequences of geopolitical disruptions.
He noted that maintaining positive growth rates despite difficult regional conditions had strengthened confidence in the trajectory of Jordan’s economy.
Abu Haltam described the IMF review results as an important endorsement of the national economy’s resilience and policy direction. They also reinforced international confidence in Jordan’s ability to continue reforms and achieve growth, while sending a positive signal to institutions and investors about the Kingdom’s capacity to manage challenges and maintain economic stability.
He explained that the impact of these assessments went beyond their symbolic value, as they could help improve borrowing terms and reduce debt-servicing costs, easing pressure on the state budget.
They could also facilitate Jordan’s access to the financing needed to implement major economic projects scheduled to advance during 2027.
He stressed that stronger international confidence in Jordan’s economic performance would enhance the Kingdom’s ability to attract financing and investment, support strategic projects and contribute positively to economic growth, employment opportunities and public finance sustainability.
Abu Haltam attributed these results to several factors, particularly the strength of Jordanian state institutions, political stability and crisis-management capabilities, as well as the effectiveness of economic institutions, foremost among them the Central Bank of Jordan.
He said the Central Bank’s prudent monetary policies had helped maintain the dinar’s exchange-rate stability and strengthen confidence in the banking sector.
He added that the banking system’s resilience, together with the governance and regulatory oversight to which it is subject, had strengthened the financial sector’s ability to cope with exceptional circumstances and preserve monetary and financial stability, creating a supportive environment for continued economic activity.
He also highlighted Jordan’s geographical location as an additional advantage amid regional disruptions, noting the Kingdom’s growing importance as a logistics, transportation and supply hub capable of providing access routes and services to meet the needs of regional markets.
This role has become increasingly significant amid changes in trade routes and supply chains.
Positive Indicators Support Economic Momentum in 2027
Economic expert Hossam Ayish said positive economic indicators recorded by Jordan during the current year, some of which exceeded the expectations of international financial institutions, had played a key role in facilitating the agreement with the IMF on the sixth EFF review and third RSF review.
Ayish said these indicators demonstrated the Jordanian economy’s ability to operate under pressure, absorb the consequences of regional crises and achieve positive results despite exceptional circumstances and disruptions affecting energy markets, trade and supply chains.
He noted that the IMF also recognised the importance of Jordan’s role in regional supply chains, particularly through the Port of Aqaba, which has emerged as an important logistics gateway amid regional disruptions.
He also pointed to the government’s continued implementation of major economic projects, including the National Water Carrier, railway projects and energy initiatives.
Together, these factors had strengthened the IMF’s confidence in the government’s economic policies and demonstrated its ability to manage the economy cautiously, fulfil its commitments and continue implementing strategic projects without allowing crisis management to disrupt major initiatives or slow the pace of economic reform.
Ayish said the IMF’s positive assessments carried strategic importance for the national economy, strengthening international financial institutions’ confidence in Jordan’s performance and supporting the release of the approximately $294 million allocated under the two programmes following completion of the reviews.
He added that the importance of these assessments was not limited to direct financing. They could also strengthen Jordan’s ability to attract foreign investment and secure the financing needed to advance major projects expected to bring significant economic and living-standard improvements and help achieve the objectives of the Economic Modernisation Vision.
Ayish further noted that continued positive assessments by international financial institutions, alongside the Jordan-European Union Investment Conference scheduled for November 19, could strengthen the Kingdom’s investment profile and reinforce international confidence in its ability to accommodate long-term investments and projects.
Source: Al-Ghad
