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Toukan to negotiate for IMF Extended Fund Facility

By Petra - Apr 01,2015 - Last updated at Apr 01,2015

AMMAN — The Cabinet on Wednesday authorised Finance Minister Umayya Toukan to forge ahead with negotiations with the International Monetary Fund (IMF) to enable Jordan to benefit from the IMF’s Extended Fund Facility.

During a Cabinet meeting chaired by Deputy Prime Minister and Education Minister Mohammad Thneibat, the Council of Ministers also entrusted Toukan with working to reach an agreement with the US Treasury, National Security Council and State Department on the issuance of $1.5 billion in Eurobonds. 

The ministers were briefed on the findings of the European Neighbourhood Policy Report on Jordan for 2014, which highlighted several positive observations on the Kingdom’s role at the local, regional and global levels. 

The report highlighted that Jordan maintained its stability at the political, economic and social levels despite surrounding threats. 

The Cabinet also approved a recommendation by the Economic Development Committee to assess the condition of underground water in the Kingdom’s northern region. 

It also approved a recommendation by the Services, Infrastructure and Social Affairs Committee to re-examine the bases for dealing with medical treatment requests submitted to the Royal Court. 

A committee tasked with this review was requested to submit its recommendations within three months. 

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