This paper focuses on Jordan's 2014 Article IV Consultation, Third and Fourth Reviews Under the Stand-By Arrangement (SBA), Request for Waivers of Nonobservance of Performance Criterion (PC) and Applicability of PCs. The program is broadly on track and, looking forward, will focus on deep tax...

This Selected Issues paper investigates the macroeconomic impact of the Syria crisis on Jordan. It is indicated that the crisis: (1) had an overall negative impact on measured output growth-although anecdotal evidence suggests possibly a positive impact on output in the informal sector; (2)...

EXECUTIVE SUMMARY Jordan’s economy has been resilient in an increasingly difficult regional environment. Previously highlighted risks have materialized, most notably major disruptions of gas flows from Egypt, and new ones have emerged, particularly from the conflict in Iraq. The macroeconomic...

This paper discusses Jordan’s Sixth Review Under the Stand-By Arrangement, Request for Waivers of Applicability of Performance Criteria (PC), and Rephasing of Access. PC Program performance remains broadly on course. All end-March 2015 PCs are expected to be met. Structural performance saw...

EXECUTIVE SUMMARY Regional instability continues to affect Jordan. The conflict in Syria and shortfalls in gas flows from Egypt are putting pressure on the fiscal and external accounts. The large inflow of refugees from Syria is also straining labor and housing markets as well as the provision...

Fiscal consolidation, additional reserve buildup, and higher growth are key program objectives for the Jordanian authorities. Despite the socially difficult elimination of the fuel subsidy, program performance was mixed. Initiatives to strengthen banking supervision and develop capital markets...

Jordan’s external vulnerabilities, arising mainly from the energy sector, increased during the last decade. Aided by exceptionally large grants, fiscal policy accommodated the social impact of these shocks. Concerns about social tensions at the beginning of the year put on hold the needed...

Jordan continues to show resilience and maintain macro-economic stability, thanks to the authorities' sound macro-economic policies and reforms. However, as the conflict in the region continues and widens, it is having a larger impact on Jordan's economy than anticipated at the outset of the program

Jordan’s economy continues to show resilience despite a challenging external environment. The economy continues to grow, albeit at a somewhat slower pace, inflation is low, and reserve buffers are strong. Growth is projected to pick up pace in 2025, contingent upon the Israel-Gaza conflict...

The International Monetary Fund (IMF)'s Middle East Regional Technical Assistance Center (METAC) is currently assisting the Central Bank of Jordan (CBJ) in enhancing its risk-based supervision through the development of a Supervisory Review and Evaluation SRP framework inspired from European...