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PM calls for new, IMF-supported economic reform programme

By JT - Aug 31,2023 - Last updated at Aug 31,2023

Prime Minister Bisher Khasawneh stressed the importance of Jordan's successful completion of six reviews of the current Extended Fund Facility (EFF) with the IMF on Wednesday (Petra photo)

AMMAN — The Cabinet on Wednesday was briefed by a delegation comprising the Minister of Finance, the Minister of Planning and International Cooperation and the governor of the Central Bank of Jordan, who recently concluded a "successful" visit to the US.

During the visit, the Kingdom's delegates met with the US Secretary of the Treasury, Chair of the US Federal Reserve, Congressional officials and the CEO of the International Monetary Fund (IMF), according to a Cabinet statement.

Prime Minister Bisher Khasawneh, who chaired the briefing session, stressed the importance of Jordan's successful completion of six reviews of the current Extended Fund Facility (EFF) with the IMF, which has strengthened Jordan's financial and monetary stability.

Khasawneh explained that the EFF preserved Jordan from certain inflationary pressures faced by neighbouring oil-importing economies, which contributed to the Kingdom’s stability and progress in international credit ratings. 

The prime minister expressed his desire to continue this constructive cooperation with the IMF within the framework of the existing programme. The programme, which was developed by Jordanian ministries and institutions, expires in March 2024.

He also called for negotiating with the fund on a new, IMF-supported national economic reform programme in order to enhance national economic resilience, secure financing requirements and promote economic growth.

Meanwhile, the Cabinet approved the legislative rationale for a draft bylaw for the administrative structure for the Public Procurement Department for 2023. 

The bill addresses shortcomings in administrative structure and restructures administrative units of the department.

 

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