The IMF this week approved a $396mn ‘rapid financing instrument’ to Jordan to help the cash-strapped economy cope with the Covid-19 crisis. The assistance will “help address the country’s balance of payment needs and allow for higher spending on healthcare, containment, and assistance to households and companies most affected by Covid-19.”

The assistance is essentially an expedited disbursement of the $1.3bn facility that Jordan and the IMF signed in March (MEES, 27 March). The IMF is a key pillar of Jordan’s low-growth economy, which relies heavily on foreign aid and soft loans to keep afloat.  (CONTINUED - 96 WORDS)