Jordan: 2008 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion
IMF Staff Country Reports, August 22, 2008
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- Jordan: 2008 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion
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Bibliographic details
- Published: August 22, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451820386.002
Overview / Context
- Discussion focuses on the appropriate policy response to mounting fiscal and external vulnerabilities and higher inflation.
- Sharply higher world fuel and food prices led to a marked widening of the fiscal and external current account deficits and, more recently, a jump in inflation.
- Economic prospects are described as broadly favorable, though public and external sector imbalances increase challenges to sustaining strong macroeconomic performance.
- Structural reforms are proceeding, aimed at reducing distortions and enhancing the private sector’s growth prospects.
Key findings
- Fiscal and external current account deficits widened markedly due to sharply higher world fuel and food prices.
- Inflation experienced a recent jump associated with higher global commodity prices.
- Despite imbalances, economic prospects remain broadly favorable.
- Structural reform agenda is underway with the aim of reducing distortions and improving private sector growth prospects.
Fiscal and external vulnerabilities
- Fiscal deficit: described as markedly widened (no precise percent figure provided on the page).
- External current account deficit: described as markedly widened (no precise percent figure provided on the page).
- Public and external sector imbalances imply increased challenges to sustaining strong macroeconomic performance.
Inflation
- Recent jump in inflation linked to sharply higher world fuel and food prices.
- Core inflation is among the keywords/topics associated with the report.
Structural reforms
- Reforms are proceeding to reduce distortions and enhance private sector growth prospects.
- Structural reform topics and related technical work referenced among subjects and keywords include Government finance statistics and data ROSC update mission.
Subjects and keywords (as listed)
- Subjects: Current account, Economic and financial statistics, Expenditure, External debt, Fiscal policy, Government finance statistics, Public debt
- Keywords: assessment mission, core inflation, CR, current account adjustment, data ROSC update mission, deficit, FDI inflow, financing datum, foreign direct investment survey, Government finance statistics, interest differential, ISCR, Jordan, Jordanian dinar, Middle East, oil price development, portfolio inflow
Content in this bundle
- _cr08290 - Executive Summary