IMF approves US$723 million for Jordan

The Executive Board of the International Monetary Fund (IMF) has approved a three-year extended arrangement under the Extended Fund Facility (EFF) for Jordan for an amount equivalent to SDR514.65 million (about US$723 million, or 150 percent of Jordan’s quota) to support the country’s economic and financial reform program. This program aims at advancing fiscal consolidation to lower public debt and broad structural reforms to enhance the conditions for more inclusive growth.
Following the Board’s decision, an amount equivalent to SDR51.465 million (about US$72.3 million) is made available for immediate disbursement, the remaining amount will be phased in over the duration of the program, subject to six reviews.