IMF approves extending USD260 m to Jordan

(MENAFN) The International Monetary Fund (IMF) approved extending USD260.8 million to Jordan as part of its USD2 billion loan to the country, Xinhuanet reported. The Deputy Managing Director and Acting Chair at the IMF in Jordan said: "Regional instability continues to weigh on Jordan. The conflict in Syria and shortfalls in gas flows from Egypt are putting pressure on the fiscal and external accounts." He added growth is recovering in the country but in a slow pace, inflation has been contained and the external current account deficit is narrowing. Jordan's economy has been seriously affected by the crises in Syria as the influx of refugees is adding more pressure to, not only the provision of public services, but to the labor and housing markets as well.