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FinancialNews
26-03-20
IMF: 4-year funding program worth about USD1.3 billion for Jordan
(MENAFN) The International Monetary Fund (IMF) has approved a 4-year funding package value about USD1.3 billion for Jordan, according to Jordan.
The Extended Fund Facility Program signals support for and belief in Jordan's reform agenda in light of the COVID-19 doubt, as said by Jordan's Minister of Finance Mohammad Al Ississ.
The minister said in a statement that, "the (IMF Executive) Board's decision amidst global uncertainty in light of the coronavirus pandemic signals the Fund's confidence in Jordan's economic reform process, and support for their efforts to mitigate the impacts of the virus on vulnerable economic sectors and individuals".
The minister also said that, the program requires a rise in the volume and efficiency of social protection spending.
MENAFN2603202000450000ID1099916388
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