Jordan, IMF highlight commitment to transparency, clear absence of any confidential elements
(MENAFN) Last year, Jordan unveiled the details of its Extended Fund Facility (EFF) program with the International Monetary Fund (IMF), highlighting a commitment to transparency and a clear absence of any confidential elements. This program, set to run until 2028, explicitly avoids any increase in government taxes or the imposition of new taxes on roads or electric vehicles. Additionally, the agreement with the IMF does not include any provisions to reduce the civil retirement or civil service bill.
Informed sources have confirmed that there are no IMF-imposed directives requiring Jordan to raise the prices of goods or services. This assurance was further validated by the IMF's Board of Directors' statement last Monday, following the first review of the EFF program. The review underscored the professionalism and dedication displayed by both the Jordanian government and the IMF in their collaboration.
Government sources, who requested anonymity, told Al-Ghad that the program with the IMF, initiated in November 2023, was made public at the time of its inception and contains no secret clauses. These sources also highlighted that the IMF's Executive Board approved the first review of the program this week, as documented in a report released by the Fund. The program firmly excludes any increase in government taxes and does not suggest new taxes on roads or higher taxes on electric vehicles.
Furthermore, the program does not establish any specific standards for the water sector, nor does it include measures to reduce civil retirement benefits or the civil service bill. Finance Minister Dr. Mohamed Al-Issis previously confirmed that the program does not introduce any new taxes or fees for the current year. Instead, it aims to broaden the tax base, enhancing fiscal stability without imposing additional burdens on citizens.
The IMF’s data and agreements with participating countries are characterized by transparency, with all details, outlines, and recommendations published in expert statements that are reviewed by the IMF’s Executive Board. This board has the authority to accept or reject the proposals, ensuring that the program’s implementation adheres to agreed-upon standards and objectives while maintaining transparency and accountability.
In conclusion, Jordan’s Extended Fund Facility program with the IMF stands out for its transparency and the absence of new tax burdens. The program is designed to broaden the tax base and ensure financial stability, all while avoiding additional costs for the public. This approach underscores a balanced strategy focused on sustainable economic growth and stability.
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