IMF Staff Country Reports

Jordan : Second Review Under the Stand-By Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Modification of Performance Criteria

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

December 19, 2013

Electronic Access:

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Summary:

This paper discusses Jordan’s Second Review Under the Stand-by Arrangement, Request for Waivers of Nonobservance of Performance Criteria (PCs), and Modification of PCs. Program performance is broadly on track. The central bank rebuilt reserves, which are now at a comfortable level and well above what was programmed. The national electricity company’s losses were in line with the program through June, but the end-September PC is estimated to have been missed because a temporary interruption in gas flows required more expensive fuel imports. The IMF staff strongly supports the authorities’ plans to seek higher grants.

Series:

Country Report No. 13/368

Subject:

Bank supervision Debt sustainability analysis Economic indicators Energy sector Fiscal consolidation Fiscal policy Fiscal reforms Jordan Monetary policy Press releases Staff Reports Stand-by arrangement reviews Unemployment