AMMAN — The
International Monetary Fund’s (IMF) Executive Board concluded its fourth review of Jordan’s economy under the
Extended Fund Facility (EFF), the fund announced in a press statement Thursday.
اضافة اعلان
The completion of the review makes SDR 137.24
million (about US$183 million) immediately available to Jordan, the statement
said, referring to special drawing rights. According to the IMF’s website, SDR
“is an international reserve asset created ... to supplement the official
reserves of its member countries,” that allows members to claim money to
provide itself with liquidity.
According to the IMF, the fund has provided a total
of about $1.356 billion to Jordan, including $407 million in May 2020 under the
Rapid Financing Instrument, which is available for members facing an urgent
balance of payments need, according to the fund’s website.
In its statement, the fund said that Jordan’s
economic recovery was supported by targeted fiscal and monetary measures and
that the government’s revenues have “over performed”. The fund attributed this
positive performance to the reduction of tax evasion and the closing of tax
loopholes.
The IMF warned that the Kingdom’s unemployment rate
remains high, especially among youth, and noted that inflation has “risen
slightly” to reach 3.6 percent at the end of April.
“Stepped-up donor support remains critical,
including to aid Jordan in hosting 1.3 million
Syrian refugees,” the statement
said.
“Jordan’s economic recovery has continued amid an
uncertain external environment. The authorities’ effective policy response to
the pandemic, including early expansion of healthcare capacity, has enabled a
timely and full reopening of the economy,” the statement said citing IMF Deputy
Managing
Director Kenji Okamura.
“Near-term policy should focus on maintaining
macro-fiscal stability, while protecting the most vulnerable, and advancing
reforms to boost growth and jobs.”
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