Amman: The International Monetary Fund (IMF) has approved a $134 million disbursement to Jordan. This comes after the completion of the third review under the Extended Fund Facility, marking a significant milestone in the ongoing financial partnership between the IMF and Jordan.
According to Bahrain News Agency, the IMF's Executive Board has also sanctioned a new 30-month $700 million programme under the Resilience and Sustainability Facility. This initiative aims to support Jordan's structural reforms, addressing critical areas such as water and electricity while bolstering the country's crisis response capabilities. The programme is also designed to stimulate private sector-led growth, improve the business environment, and enhance employment opportunities for youth and women.
Jordan's economic outlook remains cautiously optimistic, with projections indicating a growth rate of 2.5% in 2024. The country's foreign reserves are expected to surpass $20 billion, demonstrating resilience despite regional challenges impacting sectors like tourism and public finance. The IMF's decision underscores the strategic partnership with Jordan, aimed at enhancing economic resilience and ensuring sustainable medium-term growth amidst global uncertainties.