Ammon News - AMMONNEWS - Jordan will start a new phase of negotiations with the International Monetary Fund (IMF) to agree on the form of their future cooperation to assure they preserve what has been achieved under the current program, the Stand-By Arrangement (SBA), Finance Ministry Secretary General Ezeddin Kanakriyeh said.

Kanakriyeh told Petra that the Kingdom's program with the IMF, which is compatible with Jordan’s economic reforms, has resulted in many favorable results in terms of fiscal and monetary policies, which must continue in the coming years.

After the IMF had successfully concluded its sixth periodic review of Jordan’s financial and economic reforms, and is waiting for the report of its Board of Directors, it is expected to incorporate the results of the remaining two rounds of reviews next July, before finishing the current program in August, he explained.

Technical, monetary and financial sources expect that the future program will be either the Exchange Fund Account (EFA) program or the Stand-By Arrangement (SBA) program, which will be extended with different terms from the current program.