IMF Says Jordan Wants Loan Extension

The International Monetary Fund said Jordan is seeking an extension to its three-year, $2 billion Stand-By Arrangement that expired earlier this month.

“The (Jordanian) authorities have expressed interest in a successor arrangement with the fund,” Kristina Kostial, IMF’s mission chief for Jordan, told Venture.

Kostial said the IMF was willing to consider granting an extension, and talks between the two sides could begin in the fall.

She added that extending the duration of Jordan’s SBA could help the country tackle outstanding economic issues, such as ballooning levels of public debt and unemployment.

An extensive interview with Kostial on the economic reforms Jordan introduced as part of its original SBA, and the extension request, is featured in the August issue of Venture.