IMF: Discussions with Jordan to Adopt New 3-Year Economic Program | Business | Ammon News


IMF: Discussions with Jordan to Adopt New 3-Year Economic Program


[11/28/2019 9:35:02 AM]

AMMONNEWS - The International Monetary Fund (IMF) said that discussions with Jordan were underway on the possibility of adopting a new three-year economic program, adding that Jordanian authorities have taken important measures to improve the business climate.

Quoting the World Bank’s Doing Business Indicators, the IMF said on Monday, in its end-of-mission statement, that Jordanian authorities have taken important steps to improve the business climate, placing the kingdom as one of the world’s top three improvers.

An IMF mission, led by Chris Jarvis, visited Amman from November 11-20 to conduct the 2019 Article IV Consultation, and review progress under Jordan’s extended arrangement under the Extended Fund Facility.

A statement by the IMF said that Jordan’s priorities for the coming years were to maintain economic stability, reduce fiscal imbalances, boost growth, create jobs, and strengthen social protection.

“The Jordanian government emphasized its commitment and determination to continue the reform process and to overcome current obstacles to growth. The authorities have made important progress in maintaining economic and financial stability in recent years,” Jarvis said in the statement.

He noted that since these goals could not be achieved fully in the few remaining months of the current IMF-supported program, discussions have begun on a new three-year program that could be supported by the IMF.

“We encourage the authorities to continue to enhance broader private-sector growth. With the assistance of the World Bank and other partners, the authorities have outlined a concrete matrix of reforms that should, if implemented swiftly, go a long way towards improving the business climate and boosting competitiveness,” Jarvis said.

“The fund remains committed to continue to support the authorities as they work to deliver stronger and more sustainable growth, reduce fiscal imbalances, strengthen the business environment, increase transparency, improve living standards and ensure that Jordan’s most vulnerable people are protected,” he added.

* Asharq Al-Awsat

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