News Brief: IMF Statement on Jordan
August 21, 1996
Mohamed A. El-Erian, Acting Director of the Middle Eastern
Department of the International Monetary Fund (IMF), today made the
following statement:
"Jordan continues to make impressive progress under its structural
adjustment and reform program. Reflecting the implementation of
appropriate macroeconomic and structural reform policies, the
Jordanian economy has registered a high rate of economic growth,
low inflation, and increasing foreign exchange reserves. The economy
is thus well poised to continue on the path of high growth, increased
employment opportunities, and improved living standards.
"The Jordanian authorities are continuing appropriate adjustment and
reform efforts. Structural reforms are being reinforced, supported
by sound fiscal and monetary policies, the maintenance of the current
exchange rate of the Jordanian dinar vis-à-vis the U.S. dollar, and
strengthened social safety nets to assist the poor and compensate
vulnerable segments of the population adversely affected by the
adjustment and reform measures.
"The Executive Board of the IMF has just completed the first review
of the extended Fund facility for Jordan approved on February 9, 1996.
Following the completion of the review, a drawing of SDR 41.1 million
(about US$60 million) is now available to Jordan."
IMF EXTERNAL RELATIONS DEPARTMENT
