Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criterion, an Extension of the Arrangement, and Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Jordan

May 15, 2019

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Format: Chicago

Jordan: Second Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criterion, an Extension of the Arrangement, and Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Jordan, (USA: International Monetary Fund, 2019) accessed November 23, 2024

Summary

This paper discusses Jordan’s Second Review under the Extended Arrangement under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criterion, an extension of the arrangement, and rephasing of access. Discussions highlight that the Jordanian authorities have preserved macroeconomic stability, maintain a prudent monetary policy, and ensured a sound financial system. Jordan faces a challenging environment—including low economic growth, high unemployment, and elevated public debt—underscoring the importance of swiftly implementing policies and reforms to bring public debt on a downward path, boost investment and productivity, and enhance inclusive growth. The enactment of long needed growth-enhancing reforms is encouraging, including the secured transactions law, the bankruptcy law, and the business-inspections law. The international community has strongly supported the new government’s commitment to maintain the reform momentum, strengthen growth, and reduce public debt. The London Initiative in February 2019 has helped unlock essential budget grants and concessional financing to support the authorities’ reform program.

Subject: Arrears, Debt rescheduling, External debt, Income and capital gains taxes, Income tax systems, Public debt, Revenue administration, Taxes

Keywords: Access budget grant, Arrears, CR, Electricity company NEPCO, Executive board assessment, Global, Income and capital gains taxes, Income tax systems, ISCR, NEPCO, Reform, Reform effort, Reform public sector, Telecommunication company

Publication Details

Pages:

99
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/127
Stock No:

1JOREA2019001
ISBN:

9781498313841
ISSN:

1934-7685

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