## Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criterion, an Extension of the Arrangement, and Rephasing of Access—Press Release; Staff Report; and Statement by the Executive Director for Jordan

_IMF Staff Country Reports, May 15, 2019_

## Source details

**Canonical URL:** [Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criterion, an Extension of the Arrangement, and Rephasing of Access—Press Release; Staff Report; and Statement by the Executive Director for Jordan](https://www.imf.org/en/publications/cr/issues/2019/05/08/jordan-second-review-under-the-extended-arrangement-under-the-extended-fund-facility-46879)

## Other formats

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## Bibliographic details
- Published: May 15, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498313841.002

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### Program context and actions
- Second review under the Extended Arrangement under the Extended Fund Facility (EFF).
- Requests considered: a waiver of nonobservance of a performance criterion, an extension of the arrangement, and rephasing of access.
- Date of publication: May 15, 2019.
- Report length: 99 pages.
- Series: Country Report No. 2019/127; Issue: 127.
- DOI: https://doi.org/10.5089/9781498313841.002
- ISBN: 9781498313841
- Stock No: 1JOREA2019001

### Macroeconomic assessment and near-term environment
- Findings:
  - Jordanian authorities have preserved macroeconomic stability.
  - Monetary policy is described as prudent.
  - The financial system is characterized as sound.
  - Jordan faces a challenging environment including low economic growth, high unemployment, and elevated public debt.
- Implications emphasized:
  - Swift implementation of policies and reforms is important to:
    - bring public debt on a downward path,
    - boost investment and productivity,
    - enhance inclusive growth.

### Structural reforms and legal measures
- Enacted laws highlighted as growth-enhancing:
  - secured transactions law,
  - bankruptcy law,
  - business-inspections law.
- Assessment: Enactment of these long-needed reforms is described as encouraging.

### External support and financing
- International community support is noted for the new government’s commitment to:
  - maintain reform momentum,
  - strengthen growth,
  - reduce public debt.
- The London Initiative (February 2019) helped unlock essential budget grants and concessional financing to support the authorities’ reform program.

### Policy recommendations and program priorities
- Priority actions (as presented in the material):
  - Swiftly implement policies and reforms to reduce public debt.
  - Adopt measures to boost investment and productivity.
  - Advance reforms that promote inclusive growth.
  - Maintain prudent monetary policy and preserve financial system soundness while pursuing fiscal consolidation and structural reform.

### Thematic tags and subject coverage
- Subjects listed: Arrears, Debt rescheduling, External debt, Income and capital gains taxes, Income tax systems, Public debt, Revenue administration, Taxes.
- Keywords included: access budget grant, Arrears, CR, electricity company NEPCO, executive board assessment, Global, Income and capital gains taxes, Income tax systems, ISCR, NEPCO, reform, reform effort, reform public sector, telecommunication company.

*Source: Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criterion, an Extension of the Arrangement, and Rephasing of Access—Press Release; Staff Report; and Statement by the Executive Director for Jordan (IMF Staff Country Reports 2019, 127), May 15, 2019.*

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## Content in this bundle

- **Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility**
  - [Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility (Markdown version)](/-/media/files/publications/cr/2019/1jorea2019001.pdf.md){rel="alternate" type="text/markdown"}
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_Source: https://www.imf.org/en/publications/cr/issues/2019/05/08/jordan-second-review-under-the-extended-arrangement-under-the-extended-fund-facility-46879_