The International Monetary Fund approves a 1.3 billion loan to Jordan
09:16 - 26/03/2020
The International Monetary Fund announced its approval of a 1.3 billion dollar loan to Jordan for a period of 4 years, as an indication of its confidence in the Kingdom's reforms that are trying to protect its economy from the repercussions of the Corona virus.
The fund said that the program is in line with Jordan's obligations to undertake structural reforms.
He added in a statement that "the goal is to support stronger and more inclusive growth, create job opportunities, especially for women and youth, and reduce poverty."
The program was designed prior to the outbreak of the Coronavirus, but the Fund said that changes had been made to support non-budgeted expenditures, which covered emergency expenditures and medical supplies and equipment.
"If the impact of the outbreak is deep enough to place the program's objectives at risk, the program will be further adapted to changing circumstances based on reaching understandings with the authorities," the fund said.
Jordanian Finance Minister Mohammed Al-Asas said that the loan and related reforms will help Jordan attract donor and investor funds.
He said that approval of the program indicates confidence in the economic reform process in Jordan and supports efforts to mitigate the impact of the Corona virus outbreak on economic sectors at risk. Ended / 25