IMF approves $1.3 bilion aid program for Jordan

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WASHINGTON, March 26, 2020 (BSS/AFP) – The IMF on Wednesday approved a $1.3
billion aid plan for Jordan, made all the more necessary by the global
coronavirus pandemic.

The program was initially announced at the end of January before the novel
virus rocked the world’s economy.

“Changes were made to the program to support unbudgeted spending covering
emergency outlays and medical supplies and equipment,” the IMF said in a
statement.

“If the impact of the outbreak is deep enough to put at risk program
objectives, the program will be adapted further to the changed circumstances,
upon reaching understandings with the authorities,” the statement added.

Jordan will immediately receive a first tranche of about $140 million. The
rest will be dispensed over the rest of the program, subject to eight program
reviews.

In addition to funds for combatting the pandemic, the program also provides
for structural reforms including lowering the price of electricity for
businesses and facilitating youth employment.

Jordan, whose stability is considered central to that of the entire region,
is one of the most important countries that receives foreign aid, including
from the United States.

The Middle Eastern nation has also long benefitted from IMF aid programs in
exchange for reforms.

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