Jordan: Third Review Under the Extended Arrangement Under the Extended Fund Facility, and Request for Modification of Performance Criteria, and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Jordan

This paper presents Jordan’s Third Review under the Extended Arrangement under the Extended Fund Facility (EFF), and Request for Modification of Performance Criteria, and Request for an Arrangement under the Resilience and Sustainability Facility. Jordan’s economic program supported by the EFF arrangement remains firmly on track, demonstrating the authorities’ strong commitment to sound macro-economic policies and structural reforms to strengthen Jordan’s resilience and accelerate growth to enhance job creation and provide opportunities for all Jordanians. The authorities continue to make progress with a gradual fiscal consolidation and strengthening fiscal sustainability, thanks to fiscal reforms that have improved revenue administration and expenditure efficiency. Monetary policy remains appropriately focused on safeguarding monetary and financial stability and supporting the exchange rate peg that has served Jordan well and helped keeping inflation low. Structural reforms should be accelerated to improve the business environment, promote competition, and attract private investment that is crucial to create a dynamic and resilient private sector, foster job-rich growth, and achieve the objectives of Jordan’s Economic Modernization Vision.