{
  "title": "Jordan: Request for a Stand-By Arrangement—Staff Report; Staff Supplement; Request for Modification of Performance Criteria; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Jordan",
  "publication": "IMF Staff Country Reports, December 27, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/jordan-request-for-a-stand-by-arrangement-staff-report-staff-supplement-request-for-40191",
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  "summary": "Jordan’s external vulnerabilities, arising mainly from the energy sector, increased during the last decade. Aided by exceptionally large grants, fiscal policy accommodated the social impact of these shocks.",
  "sections": [
    {
      "heading": "Executive summary",
      "content": "- Jordan’s external vulnerabilities, arising mainly from the energy sector, increased during the last decade.\n- Aided by exceptionally large grants, fiscal policy accommodated the social impact of these shocks.\n- Concerns about social tensions at the beginning of the year put on hold the needed fiscal consolidation.\n- Balance of payments pressures intensified.\n- The authorities’ program is designed to correct the fiscal and external imbalances and support the exchange rate peg.\n- Structural policies will focus on supporting growth and employment."
    },
    {
      "heading": "Main findings and analysis",
      "content": "- External vulnerabilities are concentrated in the energy sector and have increased over the last decade.\n- Fiscal policy response relied on exceptionally large grants to accommodate social impacts from shocks.\n- Social tensions at the beginning of the year delayed fiscal consolidation efforts.\n- Balance of payments pressures intensified concurrently with delayed consolidation.\n- Program aims:\n  - Correct fiscal imbalances.\n  - Correct external imbalances.\n  - Support the exchange rate peg.\n  - Implement structural policies to support growth and employment."
    },
    {
      "heading": "Policy recommendations / Program focus",
      "content": "- Restore fiscal balance through consolidation measures (timing impeded by social tensions).\n- Address external imbalances and balance of payments pressures.\n- Support the exchange rate peg as part of macroeconomic stabilization.\n- Advance structural reforms to foster growth and employment."
    },
    {
      "heading": "Subject classification and keywords",
      "content": "- Subject: External debt, Fuel prices, Oil prices, Prices, Public debt, Tariffs, Taxes\n- Keywords: CR, debt service, Fuel prices, Global, ISCR, Jordan, modification of the performance criteria, NIR calculation, NIR of the CBJ, NIR PC, Oil prices, revenue loss, September, Tariffs\n\n---\n\n Content in this bundle\n\n- cr12343\n  - cr12343 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr12343 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 27, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475598520.002",
    "Jordan’s external vulnerabilities, arising mainly from the energy sector, increased during the last decade.",
    "Aided by exceptionally large grants, fiscal policy accommodated the social impact of these shocks.",
    "Concerns about social tensions at the beginning of the year put on hold the needed fiscal consolidation.",
    "Balance of payments pressures intensified.",
    "The authorities’ program is designed to correct the fiscal and external imbalances and support the exchange rate peg.",
    "Structural policies will focus on supporting growth and employment.",
    "External vulnerabilities are concentrated in the energy sector and have increased over the last decade.",
    "Fiscal policy response relied on exceptionally large grants to accommodate social impacts from shocks.",
    "Social tensions at the beginning of the year delayed fiscal consolidation efforts.",
    "Balance of payments pressures intensified concurrently with delayed consolidation.",
    "Program aims:",
    "Restore fiscal balance through consolidation measures (timing impeded by social tensions).",
    "Address external imbalances and balance of payments pressures.",
    "Support the exchange rate peg as part of macroeconomic stabilization.",
    "Advance structural reforms to foster growth and employment.",
    "Subject: External debt, Fuel prices, Oil prices, Prices, Public debt, Tariffs, Taxes",
    "Keywords: CR, debt service, Fuel prices, Global, ISCR, Jordan, modification of the performance criteria, NIR calculation, NIR of the CBJ, NIR PC, Oil prices, revenue loss, September, Tariffs",
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