IMF releases $ 335 million to Jordan, loan program on track

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WASHINGTON, Dec.20 (Reuters) – The International Monetary Fund announced on Monday that its board had approved a $ 335.2 million disbursement to Jordan with the completion of a third review of the lending program quadrennial of the country’s $ 1.5 billion.

The IMF said the program remains on track, with continued progress on economic reforms, but fiscal targets have been changed to ensure sufficient space for expanding social protection and job retention programs. and priority public investments.

“The gradual reopening of the economy in 2021, underpinned by a strong vaccination campaign and supportive policies, has helped spur a nascent recovery,” the IMF’s executive board said in a statement. “However, unemployment remained at high levels, especially for young people and women.”

Rising fuel prices widened the current account deficit, increasing gross financing needs for 2021-2022, the Fund said.

The IMF said total disbursements to Jordan since the start of 2020 have reached about $ 1.23 billion, including about $ 407 million in emergency funding to help the country fight the COVID pandemic. -19, and disbursements under the Extended Financing Facility first approved in March 2020.

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Reporting by David Lawder; Editing by Sam Holmes

Our Standards: Thomson Reuters Trust Principles.


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