Jordan this week accessed $197mn of new IMF credit from its SDR1.364bn ($1.89bn) August 2012 three-year standby arrangement. Withdrawals on the facility now total $1.5bn.
As this arrangement is due to expire in August 2015, the cabinet has authorized Finance Minister Umayya Tuqan to negotiate a new follow-on facility with the fund. IMF-sponsored reforms to monetary and fiscal policy have had positive results, an official of the Finance Ministry said last month and Jordan has indicated its willingness to carry on with these reforms. (CONTINUED - 382 WORDS)