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This Technical Assistance Report discusses the recommendations given by the IMF mission on improving the public investment management in Jordan. Jordan’s public finances have deteriorated since the mid-2000s, resulting in a significant reduction in public investment. In response to several negative external shocks, notably the Iraq and Syria crises and the 2008 global financial crisis, the government has reduced public investment and stepped up the use of public-private partnerships (PPPs). It is recommended to improve the quality of strategic planning by clarifying roles and responsibilities, enhancing coordination mechanisms between the institutions involved, and ensuring that strategic projects go through the Executive Development Plan cycle. The oversight and disclosure practices of PPPs should also be strengthened.
This paper discusses Jordan’s Second Review under the Extended Arrangement under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criterion, an extension of the arrangement, and rephasing of access. Discussions highlight that the Jordanian authorities have preserved macroeconomic stability, maintain a prudent monetary policy, and ensured a sound financial system. Jordan faces a challenging environment—including low economic growth, high unemployment, and elevated public debt—underscoring the importance of swiftly implementing policies and reforms to bring public debt on a downward path, boost investment and productivity, and enhance inclusive growth. The enactment of long needed growth-enhancing reforms is encouraging, including the secured transactions law, the bankruptcy law, and the business-inspections law. The international community has strongly supported the new government’s commitment to maintain the reform momentum, strengthen growth, and reduce public debt. The London Initiative in February 2019 has helped unlock essential budget grants and concessional financing to support the authorities’ reform program.
This Selected Issues paper and Statistical Appendix on Jordan underlies stabilization and structural transformation of the economy. Current fiscal policy appears to be broadly sustainable and should be sufficient to allow for the continued fall in the debt burden, absent large external macroeconomic shocks. Over the past decade, Jordan has made commendable progress in replacing an informal family-based social safety system with well-defined and well-targeted social protection institutions. The government will need to remain committed to periodic increases of fuel prices to close the gap between domestic and international petroleum product prices.
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This edition of the U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries during year 2013 and provides background information to assist in interpreting that performance. These annual reviews are designed to provide timely statistical data on mineral commodities in various countries. This volume covers data from Asia and the Pacific. Each report includes sections on government policies and programs, environmental issues, trade and production data, industry structure and ownership, commodity sector developments, infrastructure, and a summary outlook. Audience: Government employees and contractors, as well as businesses and employees, all working in mineral-related trades, especially with interests in statistics about mineral commodities overseas, will find this resource invaluable.
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Gulf capital flows to Amman, Jordan, in the early twenty-first century and the investment of this capital in large-scale urban developments have significantly transformed the city’s built environment. Therefore, to understand urban transformation in Amman during this period it is important to analyze it against the backdrop of Gulf capital and its integration into Jordan’s economy and the integration of both the country’s economy and Gulf capital into the global capitalist economy. This book analyzes three cases of megaprojects planned for the city in the early twenty-first century: The New Downtown (Abdali), Jordan Gate, and Sanaya Amman. Drawing upon theories on urban development and...
This book explores the way today’s interconnected and digitized world--marked by social media, over-sharing, and blurred lines between public and private spheres--shapes the nature and fallout of scandal in a frenzied media environment. Today’s digitized world has erased the former distinction between the public and private self in the social sphere. Scandal in a Digital Age marries scholarly research on scandal with journalistic critique to explore how our Internet culture driven by (over)sharing and viral, visual content impacts the occurrence of scandal and its rapid spread online through retweets and reposts. No longer are examples of scandalous behavior “merely” reported in the news. Today, news consumers can see the visual evidence of salacious behavior whether through an illicit tweet or video with a simple click. And we can’t help but click.
Focus on GAAP and IFRS, this title makes extensive use of international companies, allowing the reader to get a global understanding of financial accounting.
This lecture note volume aims to introduce economic concepts and analysis to undergraduate level students, in the context of contemporary development challenges in the economics of the Middle East and North Africa (MENA).