Economics
Jordan Agrees to $400 Million Loan From IMF
Al Abdali district sits on the city skyline in Amman, Jordan.
Photographer: Annie Sakkab/BloombergThis article is for subscribers only.
Jordan has agreed a $400 million loan with the International Monetary Fund, according to central bank governor Ziad Fariz, and is talking to other international institutions for extra support amid the coronavirus pandemic.
“The government will have to resort to borrowing and Jordan needs years to address the debt resulting from the crisis,” Fariz said late on Monday. The economy will start to recover at the end of the third quarter of 2020, and is expected to grow again in early 2021, he said.