Jordan: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Jordan
IMF Staff Country Reports, September 14, 2016
Source details
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- Jordan: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Jordan
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Bibliographic details
- Published: September 14, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475536263.002
Executive summary
- The paper discusses Jordan’s Request for an extended arrangement under the Extended Fund Facility (EFF).
- Real GDP growth is projected to increase to 2.8 percent in 2016.
- In view of Jordan’s balance of payment needs, the policy actions already taken, and the comprehensive package of adjustment measures proposed by the authorities, the IMF staff supports the authorities’ request for an extended arrangement under the EFF.
Economic context and challenges
- Economic growth of Jordan remains below potential.
- Unemployment is high, particularly for youth and women.
- The refugee crisis is weighing on the economy and public finances.
Drivers of projected 2016 growth
- Lower oil prices relative to their 2014 peak.
- An accommodative monetary stance.
- Some recovery in private investment.
IMF assessment and recommendation
- IMF staff supports the authorities’ request for an extended arrangement under the EFF given:
- Jordan’s balance of payment needs.
- Policy actions already taken.
- The comprehensive package of adjustment measures proposed by the authorities.
Subject areas
- Debt rescheduling
- Financial institutions
- Fiscal consolidation
- Fiscal policy
- Government debt management
- Loans
- Public debt
- Public financial management (PFM)
- Revenue administration
Keywords
- Africa
- CR
- deficit
- economic reform reform program
- electricity company NEPCO
- Europe
- Fiscal consolidation
- Global
- government balance
- Government debt management
- IMF quota
- indirect cost
- ISCR
- Loans
- Middle East
- NEPCO
- reform program
- refugee
- Syrian refugee