Jordan Will Get $130 Million From IMF As Part of a $1.2 Billion Loan Program
Jordan will get $130 million from the International Monetary Fund (IMF) as part of a $1.2 billion loan plan that the IMF approved in January 2024.
$130 Million from the IMF
The International Monetary Fund (IMF) said on Thursday that it plans to give Jordan $130 million. However, this will only happen if the IMF’s management and board approve it after completing their third review of Jordan’s economic reform program.
The IMF praised Jordan for keeping its economy stable, even though the country is facing challenges from the conflicts in Gaza and Lebanon, and increased uncertainty in the region. The IMF said this stability was possible because of the Jordanian government’s strong economic policies and support from the international community.
Although Jordan’s economic growth slowed down a little, it still reached 2.5%. Inflation stayed low, below 2% in 2024. The IMF also said that Jordan met its goal for reducing the budget deficit. This was done by taking strong financial steps to make up for lower income caused by weak domestic demand and lower prices for key exports.
However, there was a downside. Jordan’s current account deficit – which shows the difference between what the country earns and spends in trade and services – grew to 5.9% of its GDP. This was mainly because the country earned less money from tourism.
In short, the IMF sees Jordan’s economy as strong and steady, even with outside problems. The country has kept inflation low, hit its budget targets, and kept growing, even if growth was a bit slower. But it’s also facing lower income from exports and tourism, which makes the current account deficit bigger.
The $130 million will help Jordan continue its reform plans and stay on track. The final decision will be made after the IMF completes its latest review of Jordan’s progress.
Published: 18th April 2025
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