Approve Review of 2 Funding, IMF to Provide Jordan with 240 Million US Dollars

JAKARTA - The International Monetary Fund (IMF) Executive Board is conducting two reviews of the long-term financing facility of an economic program that allows Jordan to have direct access to around 240 million US dollars.

Quoting AN, Sunday, December 14, the process includes approval of the fourth review of Jordan's Extended Fund Facility (EFF) and the first review under the Resilience and Sustainability Facility (RSF).

The decision allows Jordan to withdraw about $130 million under the EFF and about $110 million under the RSF.

In a statement published on Saturday, December 13, the IMF said Jordan's economy "remains resilient," supported by sound macroeconomic policies and strong international support.

Jordan's growth is expected to increase to 2.7 percent in the first half of 2025 and is expected to reach around 3 percent in the coming years, driven by major investment projects, deeper regional integration, and sustainable structural reforms.

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Inflation remains under control at around 2 percent, while the current account deficit is projected to narrow to below 5 percent of GDP in the medium term. The IMF also noted that Jordan's banking sector is stable and foreign exchange reserves remain strong.

Fiscal performance continues to be in line with the program target, supported by strong revenue collection and disciplined current expenditures. The government remains committed to reducing public debt to 80 percent of GDP by 2028 through gradual fiscal consolidation, while protecting social and development expenditures and reducing losses in the public utility sector.

The IMF said progress under the RSF continued, with reforms addressing vulnerabilities in the water and electricity sectors and strengthening health emergency preparedness. All reform steps scheduled for the current review have been completed.