Jordan: Fifth Review Under the Stand-By Arrangement, Request for Waivers of Nonobservance of Performance Criterion and Applicability of Performance Criterion, Modification of Performance Criterion, and Rephasing of Access

International Monetary Fund

No 2014/324, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Jordan’s Fifth Review Under the Stand-by Arrangement, Request for Waivers of Nonobservance of Performance Criterion (PC) and Applicability of PC, Modification of PC, and Rephasing of Access. Program performance in 2014 is broadly on track. The end-September PC on the central government primary deficit is estimated to have been met, but the PC on the combined public sector deficit is likely to have been missed owing to a shortfall in gas flows from Egypt. International reserves continued to over-perform through September. The IMF staff supports the completion of the fifth review and the related purchase.

Keywords: ISCR; CR; deficit; gas supply; spending pressure; spending; reform; macro-financial risks; executive board's discussion; investment law; refugee crisis; spending side; debt service; interest rate; Government debt management; Inflation; Income and capital gains taxes; Global (search for similar items in EconPapers)
Pages: 73
Date: 2014-12-02
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