RIYADH: Jordan is set to receive $188 million in fresh International Monetary Fund financing to support economic reforms and stability amid continued disruption from the Middle East conflict.
The IMF Executive Board completed the fifth review of Jordan’s Extended Fund Facility arrangement and the second review under the Resilience and Sustainability Facility, unlocking immediate disbursements of 97.78 million Special Drawing Rights, equivalent to about $134 million, under the EFF and 39.59 million SDRs, or roughly $54 million, under the RSF.
SDRs are an international reserve asset created by the IMF to supplement member countries’ official reserves.
The decision supports the Jordanian government’s objectives of safeguarding macroeconomic and fiscal stability, reducing public debt, and fostering private-sector-led job creation, and comes as the country continues to navigate severe regional headwinds from the war in the Middle East.
“Jordan has preserved macroeconomic stability despite the strong headwinds from the war in the Middle East, supported by prudent policies, strengthened external buffers, and robust international support,” said Kenji Okamura, the IMF’s deputy managing director, following the Executive Board discussion.
