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Jordan signs funding agreement with IMF

Xinhua, June 21, 2016 Adjust font size:

Jordan signed an agreement with the International Monetary Fund (IMF) on Monday for a new funding program, the state-run Petra news agency reported.

The government said it will disclosure the volume of the new funding program in the next few days.

Jordan's Finance Minister Omar Malhas said the new funding program extends for three years.

Under the deal, the government will work on increasing tax revenues and tax collection, and reduce the percentage of public debt to gross domestic product to 77 percent by 2021, said the minister.

The minister said the government will take several measures in the upcoming period to enhance its revenues.

He said the government will not increase prices of fuel this year, but new tariffs will be applied in 2017.

In 2012, the IMF extended a loan to Jordan worth two billion U.S. dollars over three years. Endit