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Jordan Seeks to Renegotiate Terms of $700 Million IMF Loan

  • Kingdom wants to renegotiate program beyond 36 months.
  • Jordan to present to IMF reform plan in line with fund’s aims
A food market in Amman, Jordan

A food market in Amman, Jordan

Photographer: Annie Sakkab/Bloomberg
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Jordan wants to renegotiate the terms of a $700 million International Monetary Fund loan because of the kingdom’s difficult economic conditions, Deputy Prime Minister Rajai Muasher said.

The kingdom wants to extend the program beyond its current 36 months and revisit some targets, Muasher said at a news conference on Monday, without giving details. Under the terms of the extended fund facility that Jordan and the IMF negotiated in 2016, the kingdom was to have implemented reforms that would have generated an additional 540 million dinars ($761 million) this year, but state revenue in the first half was much lower than forecast.