IMF approves $99m in financial assistance to Jordan

International Monetary Fund. (File photo: Jordan News)
AMMAN — The International Monetary Fund (IMF) annual report for 2023 indicated that the available resources through the Extended Fund Facility (EFF) program for Jordan have been increased to 75.5 million Special Drawing Rights (about $99 million).اضافة اعلان

At the end of June last year, the IMF Executive Board completed the sixth review of Jordan's program under the Extended Fund Facility, allowing Jordan to withdraw an immediate sum of $32 million, Ammon News reported.

With this funding, the total IMF disbursements to Jordan under the Extended Fund Facility since the beginning of 2020 reached 1.3 billion Special Drawing Rights (approximately $1.735 billion), including the purchase of 291.55 million Special Drawing Rights (about $390 million) in May 2020 under the Rapid Financing Instrument.

IMF on Jordan’s economy
The IMF said that the Jordanian government has successfully navigated recent external shocks, maintaining macroeconomic stability in an "unstable and challenging" environment.

They anticipated that the Jordanian economy will continue to grow by 2.7 percent in the current year, despite "adverse global winds."

The IMF also said that the Jordanian government remains "committed" to gradually controlling expenditures in the coming years to reduce public debt to 80 percent of the GDP by 2028.

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