Jordan: Sixth Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; and Staff Report
IMF Staff Country Reports, June 30, 2023
Source details
- Canonical URL
- Jordan: Sixth Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; and Staff Report
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Bibliographic details
- Published: June 30, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400246043.002
Overview
- Presents Jordan’s Sixth Review under the Extended Arrangement under the Extended Fund Facility and Request for Modification of Performance Criteria.
- The IMF-supported program remains firmly on track, with key quantitative targets met and strong performance on structural benchmarks, reflecting the authorities’ strong ownership.
- The Jordanian authorities have managed to navigate recent external shocks and maintain macro-economic stability in an uncertain and challenging environment.
Economic projections and recent performance
- Jordan’s economy is projected to continue to grow this year at 2.6 percent.
- Inflation has remained relatively low and is declining.
- Reserve coverage is strong.
Fiscal and monetary policy assessment
- Fiscal consolidation is on track thanks to steadfast implementation of prudent fiscal policies.
- Monetary policy has responded quickly to U.S. Federal Reserve policy changes and remains focused on safeguarding the peg and maintaining strong reserve buffers.
- Capital market access has been maintained.
Program status and implementation
- Key quantitative targets under the program have been met.
- Strong performance on structural benchmarks is reported.
- The Request for Modification of Performance Criteria is part of the Sixth Review.
Subject areas and keywords (as provided)
- Subject: Arrears, External debt, Fiscal policy, Fiscal stance, Interest payments, International organization, Monetary policy, Public debt
- Keywords: Arrears, Fiscal stance, Global, government balance, Interest payments, Jordanian dinar, logistics support, program financing, prudent fiscal policy, transparency policy
Content in this bundle
- 1jorea2023003