WASHINGTON, June 30 (KUNA) -- The International Monetary Fund (IMF) on Thursday announced that the Executive Board completed the 2022 Article IV Consultation for Jordan and the Fourth Review under the Extended Fund Facility (EFF).
The completion of the review will make about USD 183 million "immediately available," bringing total IMF disbursements to Jordan since the start of 2020 to about USD 1.356 billion including a purchase of about USD 407 million in May 2020 under the "Rapid Financing Instrument," the Fund said in a statement
Jordan's four-year extended arrangement amounting to about USD 1.293 billion, equivalent to 270 percent of Jordan's quota in the IMF, was approved by the IMF's Board in March 2020 and was augmented in June 2021 to about USD 1.425 billion, equivalent to 312 percent of Jordan's quota in the IMF, the statement noted.
It indicated that the conclusion of the fourth review will augment Jordan's access under the EFF to about USD 1.526 billion, equivalent to 334 percent of Jordan's quota in the IMF.
The IMF affirmed that it "remains committed to supporting Jordan, including by augmenting access under the EFF to help address higher financing needs from higher international commodity prices and tightened global financial conditions."
"Donor support is critical to enable Jordan to cope with these global economic headwinds, while hosting 1.3 million Syrian refugees," it added. (end)