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The International Monetary Fund (IMF) has given Jordan access with $130 million after it said the country showed resilience, reflecting sound-macro-economic policies and structural reforms in recent years.
The fund said it has completed the first review of Jordan’s Extended Fund Facility (EFF) programme, and said it is off to a strong start.
The country will have access to total funding of SDR 926.370 million, or special drawing rights, which is an international reserve asset, equivalent to $1.2 billion, during the programme, of which the $130 million is the latest phase.
The IMF said Jordan’s economy continues to show resilience including in the face of the challenges posed by the Israel–Gaza conflict and the disruptions to trade in the Red Sea, reflecting strong progress made in recent years thanks to macro-economic policies and structural reforms helping it weather successive external shocks.
Growth of 2.4% is expected in 2024 following 2.6% in 2023, and is expected to pick up pace in 2025, the IMF said.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
