The war in Israel-Gaza that commenced in October 2023 brings with it very substantial downside risk to the economic outlook, in particular due to the increased level of uncertainty in the region and the possible impact on the important tourism sector and consumer sentiment. The ongoing Houthi attacks on cargo and energy vessels in the Red Sea hinder vessel traffic to Asia, impacting Jordan’s exports, in particular those of minerals and chemicals, and its imports. In January 2024, the Jordanian authorities and the International Monetary Fund (IMF) agreed on a new economic adjustment programme supported by a four-year Extended Fund Facility (EFF) in the amount of USD 1200 million, which followed a USD 1700 million four-year EFF from 2020-2023, including a loan under the Rapid Financing Instrument. The IMF Executive Board approved the new four-year EFF in January 2024. The first review mission was conducted in April and May 2024 and the mission report was published in July 2024.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
