IMF Completes Third Review of Jordan's Economic Program, Unlocks $134 Million - Jordan News
On Wednesday, the Executive Board of the International Monetary Fund (IMF) completed the third review of Jordan's Extended Fund Facility (EFF) program, enabling the Jordanian government to access immediate new financing worth 97.784 million Special Drawing Rights (SDRs), approximately USD 134 million, in support of its national economic program. اضافة اعلان This progress is part of the four-year agreement approved in January 2024, with a total value of about USD 1.3 billion (equivalent to 270% of Jordan's IMF quota). With this new disbursement, the total amount received by Jordan under this program has reached approximately USD 595 million. In an official statement, the IMF affirmed that Jordan's program remains firmly on track, reflecting the authorities' commitment to sound macroeconomic policies and structural reforms aimed at strengthening resilience, accelerating growth, and creating job opportunities. Jordan's economy grew by a stronger-than-expected 2.5% in 2024, and it is expected to continue improving gradually in the coming years, supported by continued sound policies and reform implementation. The statement noted that inflation in the Kingdom remains low and stable, while the Central Bank's reserves surpassed the USD 20 billion mark by the end of 2024. The current account has remained stable, with the deficit expected to hover around 6% of GDP.
The IMF highlighted the government's ongoing efforts to gradually contain public spending, aiming to reduce public debt and create room for increased social and investment spending. It also praised reforms in the business environment and labor market, particularly those expanding opportunities for women and youth. (Al-Mamlaka)
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