The IMF announced on Thursday $1.2 billion in aid for Jordan, within the framework of a new four-year program that will replace the existing one, launched in 2020 and due to expire in 2024.
This program, for which Jordan expressed interest in June, will replace the $1.3 billion program that the country has benefited from since January 2020 and which will expire in early 2024. This agreement still needs to receive approval from the Board of Directors of the IMF. , scheduled for early January 2024, the IMF said.
Accelerate structural reforms
Jordan would then have immediate access to approximately $190 million (corresponding to 144.102 million SDR, the institution’s unit of account corresponding to a basket of the world’s major currencies).
The new agreement “is based on the good results of the existing program. All the commitments that had been set (…) have been respected, even several ahead of schedule,” commented Ron van Rooden, who directs this mission for the IMF. . quoted in the press release.
The Fund “will continue to support Jordan as it faces new crises, focusing on continuing fiscal consolidation to put public debt on a steady downward trajectory, preserve monetary and financial stability, and accelerate structural reforms to support growth and enhance creation.” of employment”, details the fund. Deprived of natural resources and highly dependent on foreign aid, particularly from the IMF, Jordan faces a difficult economic situation.
Source: BFM TV
