Jordan’s macroeconomic and structural reform programme aims to enhance the conditions for more inclusive economic growth/Bloomberg
by Kudakwashe MuzoriwaJordan’s Minister of Finance said that the International Monetary Fund (IMF) has approved a four-year $1.3 billion programme.
Mohammad Al Ississ, the Minister of Finance, said that the IMF executive board’s decision to sign off on the extended fund facility programme at a time global uncertainty is mounting in the face of the coronavirus pandemic signals the fund’s confidence in Jordan’s economic reforms.
Al Ississ said that the decision shows support for the Kingdom’s efforts to mitigate the impact of COVID-19 on people and vulnerable sectors of the economy.
“The recent measures taken by the government to protect the physical and economic health of our citizens in light of the coronavirus not only fit within the programme’s framework but are well aligned with it,” said Al-Ississ.
The Hashemite Kingdom reached a staff-level agreement on a four-year programme based on growth-supporting structural reforms and fiscal discipline in January 2020 after months of talks with the IMF.
“We will continue to work with the fund, in partnership with the Jordanian private sector, to mitigate the inevitable economic impact of the coronavirus on Jordanian businesses and citizens,” added Al-Ississ.
The IMF said that the agreed economic programme, to be supported by an arrangement under the Extended Fund Facility (EFF) will reinforce the ambitious’ macroeconomic and structural reform agenda underpinned by the Kingdom’s five-year reform framework, which attracted significant support from the international community at the London Initiative in 2019.
Jordan’s macroeconomic and structural reform programme aims to enhance the conditions for more inclusive economic growth, particularly in light of the challenges posed by ongoing regional conflict and uncertainty.
Additionally, the programme is centred on a pro-growth reform agenda—which is based on measures to improve tax administration and reduce tax evasion, as well as more effective public-sector investment, reduced business costs, and measures to improve government transparency and the investment climate.
MOST READ
ECONOMY
Oman plans to raise $1 billion to plug its...ECONOMY
Refinitiv partners with Complyfin in the UAEECONOMY
Abu Dhabi plans AED 10 billion in PPP tendersECONOMY
US weighs higher tariff ceilings in a bid for...ECONOMY
GCC oil wealth could be over by 2034 without...ECONOMY
Jordan agrees $1.3 billion IMF programme
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
