IMF and Jordan reach agreement on $1.2 bn loan program

AFP, Washington :
The International Monetary Fund said Thursday it had reached agreement with Jordan on a new four-year loan program worth around $1.2 billion to help it weather financial shocks including the Israel-Hamas war.

The agreement, which is still subject to approval by IMF management, will replace an existing program due to expire early next year, the Fund announced.

The IMF expects Jordan’s economy to grow by 2.6 percent in 2023, and by 2.6 percent at most next year, due to the impact of the ongoing conflict between Jordan’s neighbor Israel and Hamas militants in the Gaza Strip.