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International Monetary: Jordan intends to issue $500 million Eurobonds this year

Amman Today

publish date 2021-08-27 18:56:20

The International Monetary Fund said in the report of the second review of the economic reform program signed with the government that Jordan intends to issue Eurobonds worth $500 million this year; To complete the official concessional financing, in addition to issuances worth one billion dollars in the next year 2022.

Eurobonds are a means of borrowing that the government resorts to from global markets, and it is required that the borrowed amount be paid in full after the expiry of the maturity period.

In 2020, Jordan issued 1.750 billion dollars in Eurobonds; To pay off previously owed debts on Jordan, which “will lead to more liquidity being pumped into the local market,” the Finance Ministry said.

In its report, which was reviewed by the Kingdom, the Fund expected that the public debt of the GDP would rise by 3% this year, while the debt trajectory would begin to decline after the end of 2021.

Jordan’s total public debt amounted to 33.987 billion dinars until the end of last May 2021, compared to 33.894 billion dinars at the end of last April, according to the government’s general financial bulletin.

According to the financial bulletin for the month of June. The public debt amounted to 27.38 billion dinars, after excluding the debts of the investment fund of guarantee funds.

According to the bulletin, the ratio of the total public debt to the GDP amounted to 108% until the end of May, while the ratio of the public debt amounted to 107.9% until the end of April 2021.

The Fund added that Jordan requested an increase in the size of the extended financing program by about $200 million; This means 144 drawing rights, or 42% of the total share.

The fund said that Jordan expects to complete the third review on September 30, 2021, and the fourth review on March 30, 2022.

(The kingdom)

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Source : اخبار الاردن

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