Study Shows IMF Programme Did Not Achieve Goals

تم نشره في Mon 9 October / Oct 2017. 12:00 AM
  • International Monetary Fund (IMF) Middle East and Central Asia Department Assistant Director, Martin Cerisola, Head of the IMF Mission to Jordan in an Exclusive with Al Ghad - (AL Ghad_

AMMAN —AlGhad— A study by the Jordan University’s Strategic Studies Centre (SSC) concludes that the International Monetary Fund (IMF)’s programmes in Jordan have not attained expected goals, nor do they entail “effective developmental, economic policies”.

The study recommends that the government revisits its commitment to the IMF’s programme in the upcoming phases,

Alternatively, the government should explore other means to push for economic revitalisation and reprioritise its legislative agendas.

The study, entitled “Analysis of IMF Programmes in Jordan from 1989 to 2016”, noted that “the objectives of the fund’s programmes implemented … have not been met in performance indicators”.

Such KPIs include “increasing economic growth rates, reducing inflation rates and addressing chronic structural imbalances in public finances”, the study underlined.

Meanwhile, it also “did not include long-term solutions and strategies”

Instead of addressing structural problems, the IMF focused on rationing the increase of rigid budget items, which have hurdled fiscal reforms in the overall.

This “led to the continuation of structural problems in government spending”, as opposed to addressing them.

Many of the challenges facing the recovery of Jordan’s economy are related to the refugee crisis.

With the Donor Countries failing to fulfil their commitments, the crisis continues to strain Jordan’s resources and budget.

Notably, nearly a quarter of Jordan’s public budget goes to hosting Syrian refugees.