Amman:Jordan's government and an International Monetary Fund (IMF) mission have reached a staff-level agreement on the sixth review of the country's economic reform program supported by the Extended Fund Facility (EFF) and the third review of the Resilience and Sustainability Facility (RSF). This agreement concludes talks held in Amman from October 21 to November 3, 2026.
According to Jordan News Agency, the agreement reflects continued progress in implementing both programs despite regional challenges and the repercussions of the war in the region. It underscores the government's commitment to pursuing economic and fiscal reforms, maintaining macroeconomic stability, and strengthening the national economy's resilience to shocks.
The IMF mission commended the Jordanian economy's solid performance and its ability to withstand regional and international challenges. In the first half of 2026, real GDP grew by around 3%, aided by the positive performance of the industrial and logistics sectors and the growing role of Aqaba Port as a regional trade and transport hub. This growth helped mitigate the impact of regional challenges on the national economy.
Economic growth for the entire year of 2026 is projected to be around 2.8% to 3%. The IMF also praised the success of monetary policy in maintaining stability, supported by foreign reserves of approximately $27.5 billion at the end of October 2026, enough to cover the Kingdom's imports for around 8.8 months. Inflation remained stable at 2.26% during the first three quarters of the year, while the banking sector maintained high levels of resilience and financial soundness.
In implementing the economic program, the IMF confirmed that all quantitative performance criteria had been met and most structural benchmarks due under the sixth review had been completed, alongside progress in implementing agreed reforms. The three reform measures due under the third review of the Resilience and Sustainability Facility are also proceeding According to agreed timetable.
The IMF noted that despite regional developments affecting tax revenues, the Jordanian government achieved the central government's primary budget deficit target by controlling public spending and improving its efficiency. Improved domestic revenue collection in the third quarter supported fiscal performance and strengthened prospects for meeting the agreed targets for 2026.
Additionally, the IMF highlighted that the Jordanian government renewed its commitment to gradual fiscal consolidation and maintaining a downward trajectory for public debt, aiming to reduce it to around 80% of GDP by 2028 while preserving priority social and development spending.
The agreement also pointed to progress in structural reforms, improvements to the business and investment environment, and continued implementation of major strategic projects, such as the Aqaba-Amman water desalination and conveyance project and the Aqaba-Shidiya-Maan railway project. These projects are vital for strengthening infrastructure, stimulating investment, supporting economic growth, and creating jobs.
Under the agreement, approval of the sixth EFF review would make approximately $133 million in financing available, while approval of the third RSF review would provide around $161 million, bringing the total available financing to approximately $294 million. The funds will be made available following the completion of approval procedures by the IMF management and Executive Board.
The agreement reaffirms the continued partnership between Jordan and the IMF and supports the government's efforts to strengthen fiscal and monetary stability and pursue economic and structural reforms, contributing to a more resilient national economy and sustainable, inclusive growth.