PM, IMF delegation discuss seventh review of economic reform programme

AMMAN — Prime Minister Bisher Al Khasawneh on Wednesday met with the International Monetary Fund (IMF) delegation, headed by Ron van Rooden, to negotiate the seventh review of the IMF-funded economic reform programme.

Jordan has already successfully passed six reviews without delays or increasing taxes or imposing new levies, the Jordan News Agency, Petra, reported. 

The premier confirmed that the proposed programme, if approved, aims at increasing the national economy's resilience, meeting finance requirements, boosting growth rates and generating employment opportunities. He noted that the programme, similar to its predecessor, will not incur any tax increase or impose new taxes. It will increase public finance revenues via eliminating tax evasion and avoidance, he added.  

The Prime Minister highlighted Jordan's successes in the past six reviews of the IMF's facility programme, bolstering Jordan's financial and monetary stability and ability to face the economic challenges imposed by the regional circumstances, in addition to maintain Jordan's credit ratings. Khasawneh said that the programme has been instrumental in preventing inflation crises that oil-importing economies in the region faced. 

Khasawneh said that Jordan is looking forward to commence the new national economic reform programme with the IMF, which has been under negotiation since June, as it will enhance confidence among donors and international organisations in Jordan's resilient economy.

For his part, head of IMF delegation commended Jordan’s economy performance demonstrating to the global community that economic and financial stability is possible despite international disturbances, which include COVID-19 pandemic, Russia-Ukraine war and worldwide economic recession. 

He confirmed IMF's commitment to cooperate with the government and support its efforts in dealing with financial and economic challenges.