São Paulo – The International Monetary Fund (IMF) announced on Monday (1) from Washington, United States, that it made another USD 130 million available to Jordan, out of the previously approved program size of USD 1.2 billion.
Jordan’s program is supported by the Extended Fund Facility (EFF), which provides financial assistance to countries facing serious medium-term balance of payments problems because of structural weaknesses that require time to address.
IMF projects growth at 2.4%
“Jordan’s economy continues to show resilience, including in the face of the challenges posed by the Israel–Gaza conflict and the disruptions to trade in the Red Sea. This reflects the strong progress that Jordan has made in recent years thanks to the steadfast implementation of sound macro-economic policies and structural reforms that have strengthened the country’s resilience and enabled it to weather the impact of successive external shocks,” the IMF said in a statement.
“Despite this strong performance,” the statement goes on to say, “challenges remain.” Unemployment remains high in the Arab country, and the unsettled regional situation weighs on its near-term outlook. To support the authorities’ policy efforts and to help shoulder the cost of hosting many Syrian refugees, international support remains needed.
Growth is projected by the IMF to moderate to 2.4% in 2024, after having reached 2.6% in 2023, and to “pick up pace” in 2025.
Read more:
Jordan seeks more religious tourists from Brazil
Translated by Guilherme Miranda
