Jordan, IMF agree loan deal
Published Wednesday, July 25, 2012
The International Monetary Fund on Wednesday announced it had reached a preliminary deal with Jordan for a $2 billion loan to steady the country's battered economy.
Citing a series of external "shocks" that have rattled the Jordanian economy, the IMF said a deal had been reached between staff and the Jordanian government.
"To guard against additional shocks, the Jordanian government asked for financial assistance from the IMF," a statement said.
Flanked by a circle of instability, Jordan has been ravaged by spluttering natural gas supplies from revolutionary Egypt and a flood of refugees crossing the border from war-torn Syria.
The agreement requires approval by the IMF's executive board. The global lender said the board would make its decision "in the near future."
Jordan turned to the IMF after being snubbed by Saudi Arabia last month.