IMF Calls Jordan a ‘Success Story’, Says Reforms Are Essential

Aerial view of the Jordanian capital, Amman (Reuters)
Aerial view of the Jordanian capital, Amman (Reuters)
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IMF Calls Jordan a ‘Success Story’, Says Reforms Are Essential

Aerial view of the Jordanian capital, Amman (Reuters)
Aerial view of the Jordanian capital, Amman (Reuters)

Jordan has successfully maintained monetary and financial stability despite the difficulties, announced the International Monetary Fund (IMF).

Jordan needs to accelerate the pace of structural economic reforms to push growth beyond the 2 to 3 percent it has recorded on average over the past years to reduce the high unemployment rates.

Leading the IMF mission, Ron van Rooden, said that unemployment was still high, at 22.9 percent, particularly among the youth and women, asserting that "structural reforms are essential for achieving strong and inclusive growth and creating more jobs."

Van Rooden noted that the reforms include enhancing the ease of doing business and reducing the cost of doing business, promoting competition, increasing labor market flexibility, and improving governance and transparency.

He indicated that the post-pandemic recovery continues, with real GDP expected to grow by 2.6 percent in 2023. However, it remains insufficient to improve the living standards of about 11 million people.

The IMF official, ending a visit to conduct the sixth review of the country's IMF-backed program, said Jordan remained firmly on track with crucial program targets met and progress through prudent monetary and fiscal policies.

"Despite a challenging global and regional environment, Jordan has maintained macroeconomic stability," van Rooden said.

He added that Jordan's macroeconomic stability had helped it tap more favorable interest rates from international capital markets than other sovereign countries when it issued last month's Eurobond worth $1.25 billion.

"We are calling Jordan a success story because they have consistently implemented sound macroeconomic policy, fiscal policy, monetary policy."

Jordan's Finance Minister Mohammed al-Ississ commented that the four-year IMF-backed program, scheduled to end next year, helped maintain economic stability amid difficult global conditions.

Van Rooden indicated that inflation is on the way to decline to 2.7 percent in 2023, compared to 3.8, with a tight monetary policy that helped to curb global inflationary pressures.

 



Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership
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Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

Venture Capital Records Two Historic Milestones, Reinforces Saudi Arabia’s Regional Leadership

The Saudi Venture Capital Company (SVC) announced on Sunday that Saudi Arabia’s venture capital ecosystem achieved two historic leaps in 2025, in terms of total investment value and number of transactions, further reinforcing the Kingdom’s position as the leading venture capital market in the Middle East for the third consecutive year.

This performance reflects the tangible impact of Saudi Vision 2030 and the structural economic transformation taking place across the Kingdom.

In a statement, the SVC said that the Saudi market recorded its highest-ever number of venture capital transactions, reaching 254 deals in 2025, alongside a record investment value of $1.66 billion during the year.

This compares to approximately $60 million in 2018, representing a 25-fold increase in venture capital investment since the establishment of SVC and the emergence of its role as a market maker within the ecosystem.

CEO and Board Member of SVC Dr. Nabeel Koshak said: “What we are witnessing today in Saudi Arabia’s venture capital sector is the direct result of the unlimited support provided by the Kingdom’s wise leadership across all sectors.”

“This support has been translated into a deliberate and well-calibrated economic transformation, moving private capital into a more mature and impactful phase. These figures reflect the strength of the Saudi economy, the clarity of national vision, and the growing confidence of investors, confirming that venture capital has become a core pillar of growth and economic diversification,” he added.

He stressed that the 25-fold growth in investment since 2018, together with the record-breaking figures for both investment value and deal volume, underscores the maturity of the Saudi venture capital market.

“Venture capital today is enabling the creation of scalable companies, generating high-quality jobs, and transforming innovation into sustainable economic value, fully aligned with the objectives of Saudi Vision 2030,” he said.


Türkiye to Ink 33 bcm Natural Gas Import Deal with Azerbaijan, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)
Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)
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Türkiye to Ink 33 bcm Natural Gas Import Deal with Azerbaijan, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)
Türkiye's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Turkish Energy Ministry Press Office/PPO/Handout via Reuters)

Türkiye has reached a new long-term agreement to import a total of 33 bcm natural gas from Azerbaijan, Energy ‌Minister Alparslan ‌Bayraktar ‌said ⁠on Sunday in ‌a televised interview.

Under the deal, Türkiye will receive 2.25 billion cubic meters of ⁠gas per year ‌for 15 ‍years ‍from Azerbaijan's Absheron field, ‍totaling 33 billion cubic meters, Bayraktar said. Deliveries via pipeline are set to begin in ⁠2029.

He added that final negotiations were concluded on Friday and that the agreement was expected to be signed shortly.


Saudi Arabia Approves Annual Borrowing Plan with $58 Billion Financing Needs

The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)
The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)
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Saudi Arabia Approves Annual Borrowing Plan with $58 Billion Financing Needs

The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)
The logo of Saudi Arabia’s Ministry of Finance (Asharq Al-Awsat)

Saudi Arabia has approved its annual borrowing plan for the 2026 fiscal year, setting projected financing needs at about $58 billion as the Kingdom seeks to fund its budget deficit while maintaining long-term debt sustainability.

The plan was endorsed by Finance Minister Mohammed Al-Jadaan, who also chairs the board of the National Debt Management Center, following approval by the center’s board. It outlines key developments in public debt during 2025, initiatives to deepen the domestic debt market, and the financing strategy and guiding principles for 2026. It also includes the issuance calendar for the kingdom’s local riyal-denominated sukuk program for 2026.

According to the plan, total financing requirements for 2026 are estimated at around SAR 217 billion ($57.9 billion). These will be used to cover the projected budget deficit of about SAR 165 billion ($44 billion), as set out in the Ministry of Finance’s budget statement for the year, as well as the repayment of maturing debt principal amounting to roughly SAR 52 billion ($13.9 billion).

In a statement, the National Debt Management Center said the strategy prioritizes preserving public debt sustainability, expanding the investor base, and diversifying funding sources at home and abroad. This will be pursued through a combination of public and private channels, including the issuance of bonds and sukuk and the use of loans at competitive and reasonable costs.

The plan also points to an expanded use of alternative government financing tools, including project and infrastructure financing, and greater reliance on export credit agencies in 2026 and over the medium term. These measures will be implemented within carefully structured risk-management frameworks to support the Kingdom’s broader economic and fiscal objectives.