AMMAN - The International Monetary Fund (IMF) is ready to provide Jordan with additional assistance if needed, as the fund expects the country’s economy to contract 3.7 per cent this year before it rebounds in 2021 and grows by 3.7 per cent. As the COVID-19 pandemic inflicts high and rising human costs worldwide, the health crisis is having a severe impact on economic activity. As a result, the global economy is projected to contract sharply by 3 per cent in 2020, much more severely than during the 2008-09 financial crisis, according to the IMF. According to the IMF, oil exports are expected to decline by more than $250 billion across the region. Looking ahead, growth in regional oil exporters is expected to rebound in 2021, reaching 4.7 per cent, according to the fund.

Source: The North Africa Journal April 16, 2020 09:55 UTC