News Briefs

Jordan and the IMF





NEWS BRIEF No. 96/5
August 21, 1996
International Monetary Fund
700 19th Street, NW
Washington, D.C. 20431 USA

IMF Statement on Jordan

Mohamed A. El-Erian, Acting Director of the Middle Eastern Department of the International Monetary Fund (IMF), today made the following statement:

"Jordan continues to make impressive progress under its structural adjustment and reform program. Reflecting the implementation of appropriate macroeconomic and structural reform policies, the Jordanian economy has registered a high rate of economic growth, low inflation, and increasing foreign exchange reserves. The economy is thus well poised to continue on the path of high growth, increased employment opportunities, and improved living standards.

"The Jordanian authorities are continuing appropriate adjustment and reform efforts. Structural reforms are being reinforced, supported by sound fiscal and monetary policies, the maintenance of the current exchange rate of the Jordanian dinar vis-à-vis the U.S. dollar, and strengthened social safety nets to assist the poor and compensate vulnerable segments of the population adversely affected by the adjustment and reform measures.

"The Executive Board of the IMF has just completed the first review of the extended Fund facility for Jordan approved on February 9, 1996. Following the completion of the review, a drawing of SDR 41.1 million (about US$60 million) is now available to Jordan."


IMF EXTERNAL RELATIONS DEPARTMENT

Public Affairs    Media Relations
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