IMF Approves $700 Million Resilience Program for Jordan

The International Monetary Fund (IMF) has approved $134 million from its Extended Fund Facility for Jordan, alongside a new $700 million Resilience and Sustainability Facility. The decision follows the completion of a review, allowing Jordan immediate access to these crucial financial resources.

The International Monetary Fund (IMF) announced on Wednesday it will allocate approximately $134 million to Jordan via its Extended Fund Facility. Additionally, a new $700 million program under the Resilience and Sustainability Facility has been greenlit for the country.

In a formal statement, the IMF confirmed the conclusion of the third review of its current arrangement with Jordan under the Extended Fund Facility. This decision grants Jordan immediate access to roughly SDR 97.784 million, calculated to be about $134 million.

Notably, there will be no immediate disbursement from the new Resilience and Sustainability Facility program; however, its approval represents a significant financial commitment to Jordan's economic stability and resilience.

(With inputs from agencies.)