Jordan receives third tranche of IMF funding

By Marc Castro

Oct 12, 2013 11:50 PM EDT

The International Monetary Fund had relaxed some of the fiscal requirements demanded of Jordan under its current USD2 billion program. This comes as the country continues to deal with the increased intake of Syrian refugees and disruptions to its current energy supply.

Officials of the IMF had agreed to provide Jordan nearly USD258 million in aid, its third tranche under a three year loan program commenced last year. This would help the country speed up economic reforms as well as boost growth.

There is still a need for sign off from the IMF executive board, which would make the funds available by November of this year.  

According to IMF member for Jordan, in a briefing of reporters, "Jordan had been hit really hard with exogenous shocks. When I compare April with where we stand now, it's I think even gotten tougher on Jordan. Of course you have to acknowledge the financial realities, clearly, but we want to be as flexible as possible in accomodating these exogenous shocks."

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