IMF mission begins third review of Kingdom's economic programme

AMMAN — The International Monetary Fund (IMF) mission on Saturday began discussions on the third review of Jordan's programme under the Expanded Facility (EPI), after the IMF's Executive Board completed the second review consultations under the same agreement at the end of last year.

The IMF mission will hold discussions on Sunday with the ministries of finance, social development, industry and trade, and environment, and other ministers, senior government officials and officials of the Central Bank of Jordan (CBJ), as the mission is likely to conclude its discussions next Thursday.

The success of the second review of Jordan's facility-supported programme will result in a new payment of the Special Drawing Rights Unit (SDR) 97.784 million (around $130 million).

In its previous response to the Al-Mamlaka TV questions, the IMF stressed that Jordan has shown resilience in the face of the repercussions of long regional conflicts and maintained macroeconomic stability.

This resilience reflects the Jordanian government's continued implementation of sound macroeconomic policies, along with progress in economic reforms, explaining that recent developments in the region, especially the ceasefire agreements in Gaza and Lebanon, give some cautious optimism, but economic uncertainty remains high in the region.

The IMF predicted that Jordan's economy will grow by 2.5 per cent in 2025, with another increase expected in 2026 of up to 3 per cent, after achieving growth of 2.3 per cent last year.

The IMF will update its growth forecasts in its World Economic Outlook for April, as well as the comprehensive assessment of its mission to Jordan in the same month.

Last December, the IMF's Executive Board approved the second review of Jordan's Extended Fund Facility-supported programme, bringing total payments to Jordan under the programme to SDR 339.67 million (around $453 million(

The audit showed that commitments related to the second review had been met, reflecting the authorities' firm commitment to sound macroeconomic policies and continued progress on reforms.