24 Oct 2019; MEMO: Recent talks between Jordan and the International Monitory Fund (IMF) were “important” but Amman “will not accept any proposals that are inconsistent with its national interests”, the country’s minister of finance said on Tuesday.
Following the meeting in Washington, Ezzeddin Kanakrieh said the talks included discussions about the financial situation and challenges that still face the national economy, most notably the modest economic growth rates and the cost of housing Syrian refugees.
He pointed out that Jordan is working on updating the plans related to promoting economic growth, noting that a request was made to the IMF to help with any proposals that would provide more job opportunities and reduce unemployment, Petra news agency reported.
The IMF mission is expected to visit Jordan in November to complete the talks to reach an agreement aimed at boosting economic growth through maintaining financial and monetary stability.
In August 2016, the IMF Executive Board approved arrangements for Jordan for a period of three years, whereby the kingdom would receive a loan of $723 million.
In the past two years, Jordan has pressed ahead with a series of steep tax increases, yielding $1.4 billion in additional revenue.
That angered an already disenchanted professional middle class and small and medium-sized businesses who form the backbone of the private sector, who felt they were bearing the brunt of raising taxes in a country with rampant corruption. A general strike by their unions launched the protests.
