The IMF announced on 26 March that its board has approved a 48-month extension to cash-strapped Jordan’s $1.3bn facility, subject to eight program reviews. Foreign grants and soft loans are critical to Jordan’s anemic economy which has seen sub-3% annual growth for the last decade (MEES, 24 January).

The funds will go toward budget support in return for key economic reforms, including revamping taxes, and “efforts to contain spending, limit losses in the energy and water sectors, and improve the targeting of Jordan’s social safety net.” (CONTINUED - 115 WORDS)