IMF mission to begin discussing Jordan’s 3rd review this month

AMMAN — An International Monetary Fund (IMF) mission is scheduled to visit the Kingdom during the second half of September to discuss the third review of the Jordanian economy.

A source told Al Rai daily that IMF mission Chief Chris Jarvis will head the delegation, which includes former mission chief Martin Cerisola and a team of specialists who are scheduled to meet with the ministers of finance, planning and energy, as well as the governor of the Central Bank of Jordan.

The source said that the IMF mission will mainly discuss the general performance of the Jordanian economy and its growth rate, in addition to the requirements for concluding the third review.

The source added that the IMF is also scheduled to discuss the file of energy and electricity strategies, noting that members of the mission will provide proposals and recommendations on the Kingdom’s financial and economic sectors and help address any shortcomings in any given sector. 

On August 24, 2016 the IMF Executive Board approved a three-year extended arrangement under the Extended Fund Facility (EFF) for Jordan for an amount equivalent to SDR 514.65 million (about $723 million, or 150 per cent of Jordan’s quota) to support the Kingdom’s economic and financial reform programme. 

Earlier this year, Jordan asked the IMF to extend the current programme for six more months until a decision is reached regarding a new programme with the fund.

The scheme aims at advancing fiscal consolidation to lower public debt and implementing broad structural reforms to enhance the conditions for more inclusive growth.