Jordan to seek $2bn loan from IMF

Jordan will soon seek a loan of around two billion U.S. dollars from the International Monetary Fund (IMF), the state-run Petra news agency reported.

Jordan's Finance Minister Umayyah Toukan said the loan, which will be extended to Jordan over a period of three years, seeks to support fiscal reforms, enhance business environment and create jobs in Jordan.

The minister added that Jordan will start negotiations with the IMF in October to decide the details of the loan.

In 2012, the IMF extended two billion U.S. dollars loan to Jordan to support the country's economy.

On economic growth in Jordan, the minister said the economy is expected to grow by 2.7 percent in 2015, while inflation is projected at 1.9 percent.

The minister added that the Jordanian economy, which is one of the smallest in the Middle East, is witnessing several positive improvements in different areas.