Mubasher: Negotiations between IMF and Jordan about a new program that helps the country boost its growth in the private sector could be completed by next February, a top International Monetary Fund official said on Wednesday.
Jordan started negotiations with the IMF earlier this month to obtain the Extended Fund Facility, and the fund will return to Amman in January and February to continue their talks on a reform package, Kristina Kostial, the IMF's mission chief for Jordan, said in a press conference.
Jordan’s budget deficit shrank by 12% of the Gross Domestic Product (GDP), against a rise of 16% in 2012, Kostial added. “IMF will focus on reducing the growing debt, which is expected to reach more than 90% of the GDP by the end of the year, versus 71% in the same period of 2011.”
