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IMF lends Jordan $ 723 million
8/27/2016 0:00
[rtl]According for 3 - year program of
Oman ( Reuters ) - The
Executive Board of the International Monetary Fund agreed on arrangements to Jordan for three years under the extended loan , which was to grant Jordan a loan of 65.514 million units facilities of special drawing rights , equivalent to about $ 723 million and represents 150 percent of Jordan 's share in the fund. the
IMF said in a statement: the extended loan facility will support the economic and financial reform program adopted by the Kingdom of Jordan, while the program aims to support fiscal consolidation to reduce public debt and expand structural reforms to create the conditions for more inclusive growth.
according to the Fund 's statement, the direct decision after approval the Fund 's boardof arrangements was released the first of the loan down payment increased by 465.51 million units of special drawing handle about 3.72 million dollars, while the amount will be remaining cashing in on the duration of the program, according to periodic review results of up to 6 revisions
for the time period.
the first Deputy Director General of the Fund , David Lipton ,: »the performance of theJordanian economy was positive in light of a difficult external environment, including hosting a large number of Syrian refugees, and maintained its stability at the macro level thanks to the adjustment and reform policy, however, is still economic performance below potential in light of the gravity casting by refugees Syrians on the economy and public finance of the Kingdom. »
He added that the Jordanian authorities have developed a program for the reform of theoverall economic to provide favorable conditions for achieving inclusive growth and maintain economic stability at the macro level, and expected to be taken decisive action to provide economic opportunities, create jobs and boost confidence in the light of thedifficult environment.
the Lipton that at a time when local and regional conditions are challenging, the the Jordanian authorities have a strong commitment to and adoption of the program iswelcome, and continued donor support to Jordan through adequate grants and soft loans, will be important to support the goals of the program (economic and financial reform program) which was adopted by the Kingdom.
he Lipton: the public debt needs to be reduced through a gradual fiscal measures in the medium term while maintaining the associated and necessary social services expenditures; stressing that to achieve this end, Jordan need to reduce salt in theexceptions to the general sales tax , customs duties and an amendment to the Income tax Law and access the national electricity company to recover the cost of operating phase.[/rtl]
[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=122112
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