jordan pulse -
The International Monetary Fund transferred $345.2 million to Jordan, after the success of the fifth performance review under the “Extended Fund Facility” program, according to data on fund transfers that the Kingdom reviewed.
According to these data, the fund transferred, at the end of last December, 257,325,000 million special drawing rights units (the exchange currency of the IMF, equivalent to 1.341460 US dollars).
By the end of December 31, 2022, the total payments of the International Monetary Fund to Jordan (purchases and loans) amounted to 1.469 billion Special Drawing Rights (approximately $1.970 billion), including the purchase of 291.55 million Special Drawing Rights (approximately $407 million) in May 2020 under the Rapid Financing Instrument.
Jordan's four-year program, equivalent to SDR 926.37 million (approximately $1.293 billion, equivalent to 270% of Jordan's share in the IMF), was approved by the IMF Board of Directors on March 25, 2020.
On June 30, 2021, it increased by 1,070.47 special drawing rights (approximately $1.494 billion, equivalent to 312% of Jordan's share in the International Monetary Fund).
The International Monetary Fund expects Jordan's real GDP (economy) for the year 2023 at 2.7%, while it expects the consumer price rate (inflation) for the same year to reach 3%.
Concluding its fifth review of the program supported by the EFF, the Fund noted that Jordan continued its broad recovery amid a challenging external environment, thanks to the authorities' effective policy response.
The fund added that "the performance of public finances in Jordan was strong, against the backof ongoing legislative and administrative reforms to limit and avoid tax evasion, and the government's replacement of non-targeted and financially unaffordable fuel subsidies with cash transfers to protect the most vulnerable groups," explaining that "the planned gradual fiscal control He, along with efforts to improve public investment management and monitor fiscal risks, continues to support debt sustainability.
The transfers of the International Monetary Fund at the end of last December amounted to 6.529 billion special drawing rights units for several countries in the world, most notably Egypt, Argentina, Benin, Ecuador, Kenya and Serbia.