IMF Staff Reach Deal to Expand Jordan's Loan Program

Business

March 31st, 7:14am

Asharq Al-Awsat

Jordanian police officers are seen at a checkpoint as people walk in the street after Jordan announced it would allow people to go on foot to buy groceries in neighborhood shops, amid concerns over the spread of coronavirus disease (COVID-19), in Amman, Jordan March 25, 2020. REUTERS/Muhammad Hamed

The International Monetary Fund said on Tuesday it has reached a staff agreement with Jordan to expand the country's financing access by $200 million under an existing loan facility after a review found the program to be "firmly on track." The IMF said total disbursements to Jordan, including under the two-year Extended Fund Facility that launched in March 2020 and amounts drawn under emergency coronavirus loan facilities, would reach about $1.95 billion over the 2020-2024 period. The program was designed before the coronavirus outbreak, but the IMF said changes were made to support unbudgeted spending covering emergency outlays and medical supplies and equipment.

from Asharq AL-awsat https://english.aawsat.com/home/article/2891781/imf-staff-reach-deal-expand-jordans-loan-program