Jordan News

The former spokesman for the Social Security Corporation, Musa Al-Subaihi, published a clarification on the amount of loans granted by the Social Security Investment Fund to the government.

Al-Subaihi said that the government would face great difficulties in borrowing huge sums internally without the presence of the guarantee funds investment fund, and the head of the fund should have recognized this with complete transparency and that without the investment fund, the Kingdom’s government would not have been able to borrow “in the form of bonds” more than (6.5) billion Dinars internally are the total government bonds currently subscribed to by the fund.

Al-Subaihi added that the fund has strengthened the government’s capabilities for internal borrowing by offering treasury bonds, as the Guarantee Funds Investment Fund was the largest subscriber of these bonds, which acquired more than (57%) of its assets, which means that the fund is no longer the investment arm of the Corporation. Not only the guarantee, but it has also become the largest internal lending arm of the government.

Al-Subaihi concluded by saying: “This is what the President of the Fund should have mentioned in her last television interview on Jordan TV, not that the strength of the Investment Fund was what enabled the Social Security Corporation to implement its programs in support of the private sector during the Corona pandemic. When the fund was able to launch these programs, this is not true.”