“Monetary policy should continue to be anchored in safeguarding the peg which has served the economy well–consistent with the CBJ’s commitment to maintaining monetary and financial stability.”
International reserves, Abbas affirmed, are projected to remain comfortable over the medium term providing an important buffer against a highly uncertain external environment.
He explained that the banking system remains well-capitalized and liquid, and non-performing loans have remained at low levels.
He said that the Article IV consultation focused on prospects for strong, resilient and inclusive growth, which rest on steady progress on structural reforms to support female labor force participation, enhance labor market flexibility, promote competition, reduce the costs of doing business, and enhance governance and transparency.
In this regard, he added, advancing legislation to support female labor force participation and strengthen the competition regulatory framework will be critical.
“Continued efforts are also needed to address water scarcity, and improve the financial sustainability of both the water and electricity sectors,” he noted.
“Robust concessional support from donors, remains crucial, especially as global risks are elevated. Jordan continues to bear a disproportionate burden in supporting and hosting 1.3 million Syrian refugees, including providing all residents equal access to vaccination,” the IMF mission head concluded.
Source: Jordan News Agency