IMF, Jordan reach staff-level agreement

The International Monetary Fund (IMF) said on Wednesday that it has reached a staff-level agreement with Jordan to bring the fund’s disbursements to $1.75 billion since the start of the 2020 programme.

Jordan needs to accelerate structural economic reforms to increase growth by three percent, in order to help with generating more jobs to decrease the high unemployment rate, the IMF mentioned.

“With unemployment still high, particularly among the youth and women, structural reforms are essential for achieving strong and inclusive growth and creating more jobs, growth needed to ease the rates is around 22.9 percent,” said Ron van Rooden, an IMF official.

Jordan has remained on track, by meeting programme targets and progress with sustainable monetary and fiscal actions, Jordan has also managed to maintain macroeconomic stability amidst global and regional turmoil, Rooden added.

“The four-year IMF backed programme due to end next year had helped preserve economic stability in difficult global circumstances,” said the Jordanian Finance Minister, Mohamad Al Ississ.