{
  "title": "Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Request for Augmentation of Access, and Modification of Performance Criteria-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Jordan",
  "publication": "IMF Staff Country Reports, August 24, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/08/24/jordan-second-review-under-the-extended-arrangement-under-the-extended-fund-facility-464551",
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  "summary": "Early success in containing the spread of COVID-19 has been challenged by two subsequent waves of the pandemic. Timely and effective fiscal and monetary policy responses helped contain the contraction in activity to 1.6 percent in 2020, shallower than the 3 percent expected at the first review.",
  "sections": [
    {
      "heading": "Macroeconomic impact of COVID-19 and growth outlook",
      "content": "- Early success in containing the spread of COVID-19 was followed by two subsequent waves of the pandemic.\n- Contraction in activity contained to 1.6 percent in 2020, shallower than the 3 percent expected at the first review.\n- A moderate 2 percent growth rate is projected for 2021 (slightly below the 2.5 percent projected in the first review).\n- A near-full reopening is expected in the summer (2021)."
    },
    {
      "heading": "Labor market and social outcomes",
      "content": "- Unemployment surged to a record 25 percent in Q4 2020.\n- Youth unemployment reached 55 percent.\n- Authorities made significant efforts to protect jobs and the most vulnerable."
    },
    {
      "heading": "Fiscal and external balances; public debt",
      "content": "- The impact on fiscal and external balances has been significant.\n- Public debt reached 88 percent of GDP at end-2020."
    },
    {
      "heading": "Policy response and macroeconomic stability",
      "content": "- Timely and effective fiscal and monetary policy responses helped contain the contraction in activity.\n- Macroeconomic stability has been maintained, attributed to the authorities’ proactive policy stance.\n- Challenges noted include new virus variants and weaker tourism prospects."
    },
    {
      "heading": "Political and program developments",
      "content": "- The new parliament extended a vote of confidence to the incoming government in January (2021).\n- Parliament approved the 2021 budget—consistent with the program—in February (2021)."
    },
    {
      "heading": "Publication metadata and scope",
      "content": "- Publication title: Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Request for Augmentation of Access, and Modification of Performance Criteria-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Jordan\n- Date: August 24, 2021\n- Pages: 107\n- Volume: 2021\n- Issue: 188\n- Series: Country Report No. 2021/188\n- DOI: https://doi.org/10.5089/9781513594705.002\n- Stock No: 1JOREA2021002\n- ISBN: 9781513594705\n- ISSN: 1934-7685\n- Subject keywords: Arrears, COVID-19, External debt, Fiscal policy, Fiscal stance, Health, International organization, Monetary policy, Public debt\n- Additional keywords: Arrears, CBJ Law, COVID-19, Fiscal stance, Global, lender of last resort function of the CBJ, post audit, procurement process, staff appraisal\n\nInternational Monetary Fund. Middle East and Central Asia Dept. \"Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Request for Augmentation of Access, and Modification of Performance Criteria-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Jordan\", IMF Staff Country Reports 2021, 188 (2021).\n\n---\n\n Content in this bundle\n\n- 1jorea2021002\n  - 1jorea2021002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1jorea2021002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 24, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513594705.002",
    "Early success in containing the spread of COVID-19 was followed by two subsequent waves of the pandemic.",
    "Contraction in activity contained to 1.6 percent in 2020, shallower than the 3 percent expected at the first review.",
    "A moderate 2 percent growth rate is projected for 2021 (slightly below the 2.5 percent projected in the first review).",
    "A near-full reopening is expected in the summer (2021).",
    "Unemployment surged to a record 25 percent in Q4 2020.",
    "Youth unemployment reached 55 percent.",
    "Authorities made significant efforts to protect jobs and the most vulnerable.",
    "The impact on fiscal and external balances has been significant.",
    "Timely and effective fiscal and monetary policy responses helped contain the contraction in activity.",
    "Macroeconomic stability has been maintained, attributed to the authorities’ proactive policy stance.",
    "Challenges noted include new virus variants and weaker tourism prospects.",
    "The new parliament extended a vote of confidence to the incoming government in January (2021).",
    "Parliament approved the 2021 budget—consistent with the program—in February (2021).",
    "Publication title: Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Request for Augmentation of Access, and Modification of Performance Criteria-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Jordan",
    "Date: August 24, 2021",
    "Pages: 107",
    "Volume: 2021",
    "Issue: 188",
    "Series: Country Report No. 2021/188",
    "DOI: https://doi.org/10.5089/9781513594705.002",
    "Stock No: 1JOREA2021002",
    "ISBN: 9781513594705",
    "ISSN: 1934-7685",
    "Subject keywords: Arrears, COVID-19, External debt, Fiscal policy, Fiscal stance, Health, International organization, Monetary policy, Public debt",
    "Additional keywords: Arrears, CBJ Law, COVID-19, Fiscal stance, Global, lender of last resort function of the CBJ, post audit, procurement process, staff appraisal",
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