Agreement Between Jordan and the IMF

Jordanian Finance Minister Mohamad Al- Ississ disclosed on Thursday that the kingdom has reached an agreement with the International Monetary Fund (IMF) on a new reform program valued at $1.2 billion over four years. The IMF stated in a press release that the new arrangement for the Extended Fund Facility will replace the current arrangement set to expire in early 2024. The statement indicated that the program will continue to support Jordan as it "faces new shocks," focusing on continued fiscal adjustments to put public debt on a downward steady path, as well as ensuring monetary and financial stability.