Ammon News - AMMAN Deputy Managing Director of the International Monetary Fund (IMF) Nemat Shafik said that the IMF program with Jordan has broadly stayed on track through March 2013 .

Shafik who made the statement in Washington after meeting last week with Jordan’s Finance Minister Umayya Toukan and the Central Bank Governor Ziad Fariz said:"We had very good discussions on Jordan’s recent economic developments and its performance under the IMF-supported program. Despite a difficult environment, the program has broadly stayed on track through March 2013 with central bank reserves now exceeding program targets" She added that a mission will visit Amman during September 4-17 as planned, with the purpose of concluding discussions of the second review under the Stand-By Arrangement.

Jordan’s 36-month SBA was approved on August , 2012, for about US$2.06 billion to support the national program of economic reforms aimed at maintaining macroeconomic stability and improving the fiscal and external positions, while protecting the vulnerable segments of the population and fostering stronger and more inclusive growth.

Shafik announced that the IMF Executive Board completed the first review under the SBA on April 10. Total disbursements to date have amounted to US$769 million. (Petra)