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Ammon News - AMMONNEWS - The Finance Ministry signed a $58 million agreement with the Arab Monetary Fund (AMF) Thursday to support the structural reform of public finance in the Kingdom.

Finance Minister Umayya Toukan, said the structural reform program is in line with the government's policies to correct the structure of the economy and deepen reforms to address various challenges, apart from promoting the balance of the national economy, and accelerating the pace of comprehensive and sustainable economic growth.

The reform program aims to productive employment opportunities and enhance the economy's ability for self-mobilization of resources.

Toukan told Petra that the government will continue to implement financial reforms in order to improve the preparation of the general budget, increase fiscal revenues and improve the efficiency of government spending.

Director General and Chairman of the Board of Executive Directors of the (AMF), Abdulrahman Bin Abdullah Al Hamidy, said this agreement reflects the close relationship between Jordan and the AMF, especially since the reforms carried out by the Jordanian government are known for their credibility and contribute effectively in promoting economic growth, thus creating new employment opportunities.

He added that with this loan the value of loans offered by the AMF to Jordan will rise to $607m.

He pointed out that cooperation between the AMF and Jordan is not limited to the areas of finance, but also in raising the efficiency of employees through courses at the Economic Policy Institute which has benefited about 500 financial and economic experts from Jordan.

The Arab Monetary Fund is a regional Arab organisation located in the city of Abu Dhabi, United Arab Emirates, and was founded in 1976. Its main goal is to strive for the removal of restrictions on current payments between member states, promote trade among them, establish policies and modes of Arab monetary co-operation, and promote the development of Arab financial markets.