'Jordan expects more resilient economy with new IMF plan'

AMMAN — Finance Minister Mohamad Al-Ississ and Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva recently met over means of advancing cooperation.

The two sides discussed the four-year economic programme recently signed with the IMF, which allocates $1.3 billion to addressing the requirements of the Kingdom's national economy and to enhancing growth.  

Al-Ississ noted that the programme was developed to boost young Jordanians' employment and strengthen Jordan's resilience amidst these “difficult regional times", the Jordan News Agency, Petra, reported on Friday.

A Jordanian ministerial delegation, including the Minister of Planning and International Cooperation, the Minister of Finance and the Minister of Energy, is visiting Washington, DC, to meet officials from the World Bank and the IMF.

"We believe that after four years of implementing this programme, Jordan will be in a safer, more resilient and more prosperous place economically," Al-Issis added.

The minister also highlighted Jordan's role in maintaining regional stability and serving refugees on behalf of the international community.

Georgieva affirmed that the new agreement would "provide Jordan with momentum for structural reforms and open up a more competitive environment".

"Jordan is open for business," she said, underlining that the programme focuses on youth and women, "the foundation for Jordan to succeed". 

In January, Jordan and the IMF reached an agreement under which the Kingdom will receive nine installments ranging between $140 million and $150 million over the course of four years, with the first $140-million installment expected by the end of March.