An International Monetary Fund (IMF) mission has reached a staff-level agreement on the fifth review of the Jordanian authorities’ economic reform program supported by the Extended Fund Facility (EFF) arrangement.
“Completing this review will bring total IMF disbursements over 2020-24 to around $2 billion. This is in addition to $469 million disbursed as Jordan’s share under the IMF General SDR allocation,” according to a statement from the IMF
This agreement is subject to approval by the IMF’s management and the Executive Board, said the statement.
“The latter reflects the government’s ongoing institutional and legislative efforts to tackle tax evasion and avoidance,” according to the IMF.
The Fund stressed that “sound fiscal and monetary policies have helped maintain macroeconomic stability and access to international markets.”
“The electricity sector faces significant financial challenges against the headwinds from higher international oil and gas prices," it added.
