IMF Extends Financial Lifeline to Jordan with $834 Million Support
The International Monetary Fund has announced special drawing rights of SDR 611.78 million for Jordan, totaling approximately $834 million. This aid will be accessed under the Extended Fund Facility, with an immediate release of SDR 97.784 million and an additional $700 million through the Resilience and Sustainability Facility.
The International Monetary Fund (IMF) has bolstered Jordan's financial landscape by allocating special drawing rights totaling SDR 611.78 million, equivalent to about $834 million. This substantial support is extended under two agreements, ensuring Jordan's economic growth and stability amidst challenging global conditions.
The IMF confirmed the completion of the third review of Jordan's arrangement under the Extended Fund Facility, which paves the way for the immediate release of SDR 97.784 million ($134 million). This allocation is aimed at addressing fiscal imbalances and aiding the country's development initiatives.
Furthermore, the IMF is releasing an additional $700 million under the Resilience and Sustainability Facility. This initiative reflects a strategic effort to underpin Jordan's long-term economic resilience and foster sustainable development, contributing to the nation's financial and economic reform agenda.
(With inputs from agencies.)
Google News