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This paper discusses Jordan’s Second Review Under the Stand-by Arrangement, Request for Waivers of Nonobservance of Performance Criteria (PCs), and Modification of PCs. Program performance is broadly on track. The central bank rebuilt reserves, which are now at a comfortable level and well above what was programmed. The national electricity company’s losses were in line with the program through June, but the end-September PC is estimated to have been missed because a temporary interruption in gas flows required more expensive fuel imports. The IMF staff strongly supports the authorities’ plans to seek higher grants.
This paper discusses Jordan’s Second Review Under the Stand-by Arrangement, Request for Waivers of Nonobservance of Performance Criteria (PCs), and Modification of PCs. Program performance is broadly on track. The central bank rebuilt reserves, which are now at a comfortable level and well above ...
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