Ammon News - The International Monetary Fund (IMF) transferred $345.2 million to Jordan, after the success of the 5th performance review under the Extended Fund Facility programme (EFF).

According to these data, the IMF transferred, at the end of last December 257,325,000 million Special Drawing Rights units (SDRs).

By the end of December 31, 2022, the IMF's total payments to Jordan “purchases and loans” amounted to 1.469 billion SDRs “approximately $1.970 billion”, including the purchase of 291.55 million SPRs “approximately $407 million” in May 2020 under the Rapid Financing Instrument (RFI).

Jordan's four-year program, equivalent to SDRs 926.37 million “approximately $1.293 billion, equivalent to 270% of Jordan's share in the IMF”, was approved by the IMF Board of Directors on March 25, 2020.

On June 30, 2021, it increased by 1,070.47 SDRs “approximately $1.494 billion, equivalent to 312% of Jordan's share in the IMF”.

The IMF expects Jordan's real GDP “economy” for the year 2023 at 2.7%, while it expects the consumer price rate “inflation” for the same year to reach 3%.

Concluding its 5th review of the program supported by the EFF, the Fund noted that Jordan continued its broad recovery amid a challenging external environment.

The fund added that "the performance of public finances in Jordan was strong, against the backdrop of ongoing legislative and administrative reforms to limit and avoid tax evasion, and the government's replacement of non-targeted and financially unaffordable fuel subsidies with cash transfers to protect the most vulnerable groups.”

The IMF's transfers at the end of last December amounted to 6.529 billion SDRs units for several countries in the world, most notably Egypt, Argentina, Benin, Ecuador, Kenya and Serbia.