ammonnews.net

Ammon News - AMMAN (Jordan Times) — A delegation from the International Monetary Fund (IMF) will visit Jordan in September to review the performance of the economy and consequently decide the third tranche of the loan, the Finance Ministry said on Monday.

Finance Minister Umayya Toukan, his secretary general, Omar Zu’bi, and Central Bank of Jordan Governor Ziad Fariz have met with officials from the IMF in Washington and reviewed the fiscal reform plans the government has implemented as part of an economic reform programme it has agreed on with the international financial agency, the ministry statement said.

Last year, Jordan and the IMF agreed on an economic reform programme to enable the country to benefit from a $2 billion loan under a Stand-By Agreement.

In the statement, carried by the Jordan News Agency, Petra, the ministry said that the IMF delegation will come to Jordan on September 4 to review the performance of the national economy to decide when the third tranche of the loan can be released. Jordan received the first payment of $385 million in 2012.

In April 2013, Jordan received the second tranche of the loan to finance projects under the programme, at a total of $385 million.

Toukan said then that the approval of the second tranche indicated that the IMF believed the country’s economic reform programme was going in the right direction and in a sustainable manner without facing risks that may impede prospects of growth and social stability.

The IMF carries out regular reviews of the country’s economic programme during scheduled visits. On these trips, IMF representatives review the results of the economic correctional programme agreed on with Jordan, under which the $2 billion loan is to be given to the Kingdom in the period extending to 2015.