IMF upbeat on Jordan’s reforms and economic situation

By bne IntelliNews July 17, 2013

Despite the difficult environment, the Jordanian government has succeeded to meet the economic conditions under its IMF USD 2.06bn three-year Stand-By Arrangement, Nemat Shafik, deputy managing director of the Fund said in a statement. The IMF’s programme has broadly stayed on track through March 2013 with central bank reserves now exceeding programme targets, he noted.

The Jordanian authorities will continue implementing appropriate policy action, consistent with the programme, to meet its objectives of consolidating the fiscal accounts, building reserves, and boosting growth, Shafic said. An IMF mission will visit Jordan in September 4-7 to conclude discussions on the second review under the Stand-By Arrangement (SBA).

The IMF completed the first review under the SBA on April 10. Total disbursements to date have amounted to USD 769mn.

Jordan‘s budget gap will shrink to 4.8% of GDP in 2013 from 8.2% the year before, the IMF forecasts. Higher grants receivables, austerity measures and falling energy imports will help Jordan improve its external balances in 2013.

Related Articles

EBRD prepares to welcome Lebanon into fold

The EBRD is set to welcome its 66th member country and the fifth from the southern and eastern Mediterranean (SEMED) region once the Lebanese government finalises the last steps of the joining ... more

Russia and Saudi Arabia to launch joint projects worth $3bn in 2017

Russia and Saudi Arabia will launch joint projects worth $3bn by the end of 2017, the speaker of Russia’s Federation Council Valentina Matviyenko said at talks with members of the Russian-Saudi ... more

Egypt’s President El Sisi to announce state of emergency after church bombings

Egypt’s President Abdel-Fattah El Sisi announced in a televised speech his intention to impose a nationwide state of emergency for three months following two deadly bomb attacks on Christian ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss