Media ININ Economy We Trust
Media IN/Abu-dhabi/07-05-2019: KUNA
The international Monetary Fund (IMF) executive Board completed Monday the second review of Jordan’s economic performance ”under the Extended Arrangement under the Extended Fund Facility (EFF).” The IMF said in a statement that the completion of the second review enables the disbursement of about USD 166.4 million, bringing total disbursements under the program to about USD 309 million.
It added that Executive Board also approved ”the authorities’ request for waiver of non-observance of performance criterion on the Net international Reserves of the central bank of Jordan (CBJ), an extension of the arrangement to March 2020 and the rephrasing of access.”
In August 2016, the executive Board approved a three year extended arrangement under the EFF for Jordan for an amount of about USD 723 million at the time of approval of the arrangement or 150 percent of Jordan’s quota to support the country’s economic financial reform program.
The IMF said in a statement that the program aims at advancing fiscal consolidation to gradually lower public debt and broad structural reforms to enhance the conditions for more social-friendly inclusive growth
The IMF also added that it is critical to advance structural reforms to reduce business costs -particularly for energy and the cost of formal employment- in order to enhance investment opportunities and create new jobs.
