30 Years on, Has the IMF Helped or Hindered the Jordanian Economy?

Walid Alkhatib, Miss Nafiso Mohamed


In spite of the hostile external environment, Jordan has displayed resilience in maintaining internal cohesion in the face of adversity. The combination of the global financial crisis, energy crisis, closure of trade routes resulting to a de facto economic siege, Arab spring regional turmoil, increasing the cost of security, decreases in remittance and the rising oil and food prices have placed substantial pressure on the Jordanian economy and fiscal effort. As a result of the economic crises, Jordan encountered profound macro-economic and structural related issues as well as a severe balance of payments crisis.
In the past three decades, Jordan has adopted various reform programs in cooperation with the International Monetary Fund (IMF) in hopes of stabilizing its economy through neo-liberal policies (El-Said, Harrigan, 2009). This paper aims to determine the extent to which IMF programs contributed to Jordan’s economic prosperity in tackling challenges in its macro-economy from 1989 to 2019. The IMF reform programs were supported under several stand-by agreements (SBA’S) and Extended Fund Facility (EFF) arrangements. This paper would discuss what the overall objectives of the reform programs were and whether they were relevant to Jordan’s circumstances. Whether the IMF policies and processes worked in favour of Jordan’s institutional dealings and if Jordan received preference from the IMF concerning their geopolitical considerations.


IMF; Jordan economy; 1980 crisis; World bank; Post Economic Crisis

Full Text:



Ahid, M., & Augustine, A. (2012). The impact of global financial crisis on Jordan. International Journal of Business and Management, 7(16), 80.

Alam, S. A., Inchauste, G., & Serajuddin, U. (2017). The Distributional Impact of Fiscal Policy in Jordan. The Distributional Impact of Taxes and Transfers: Evidence from Eight Low-and Middle-Income Countries (pp.179-198).

Alshoubaki, W. E., & Harris, M. (2018). The impact of Syrian refugees on Jordan: A framework for analysis. Journal of International Studies, 11(2), 154-179.

Assaf A. Shetewi, M. (2018). The International Monetary Fund (IMF) Lending Facilities Jordan 1989-2016: The Outcomes and Lessons Learned 5-56.

Cobham, D., & Dibeh, G. (Eds.). (2010). Money in the Middle East and North Africa: Monetary policy frameworks and strategies. Routledge.

El-Said, H., & Harrigan, J. (2009). “You reap what you plant”: Social networks in the Arab world—The Hashemite Kingdom of Jordan. World Development, 37(7), 1235-1249.

El-Said, H., & Harrigan, J. (2014). Economic reform, social welfare, and instability: Jordan, Egypt, Morocco, and Tunisia, 1983–2004. The Middle East Journal, 68(1), 99-121.

Harrigan, J., El-Said, H., & Wang, C. (2006). The IMF and the World Bank in Jordan: A case of over optimism and elusive growth. The Review of International Organizations, 1(3), 263-292.

Harrigan, J., Wang, C., & El-Said, H. (2006). The economic and political determinants of IMF and World Bank lending in the Middle East and North Africa. World development, 34(2), 247-270.

Imai, S. (2012). Economic and Trade Liberalization in Jordan: An Analysis of Policy Orientation in the 2000s.

Jordan Strategy Reform. (2017). Real Economic Growth in Jordan: The role of investments on the Macro and Micro levels.

Pfeifer, K. (1999). How Tunisia, Morocco, Jordan and even Egypt became IMF” Success Stories” in the 1990s. Middle East Report, (210), 23-27.

The Economic Policy Council. (2018). Jordan Economic Growth Plan 2018-202. The Economic Policy Council Jordan

Weaver, C. (2010). The politics of performance evaluation: Independent evaluation at the

International Monetary Fund. The Review of International Organizations, 5(3), 365-385.

Yom, S. L. (2015). The new landscape of Jordanian politics: Social opposition, fiscal crisis, and the Arab spring. British Journal of Middle Eastern Studies, 42(3), 284-300.

Zeitun, R., & Benjelloun, H. (2012). The Efficiency of Banks and Financial Crisis in a Developing Economy: The Case of Jordan. International Review of Accounting, Banking & Finance, 4(2).

DOI: http://dx.doi.org/10.3968/11218


  • There are currently no refbacks.

Copyright (c) 2019 Canadian Social Science

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.



  • 如何在线投稿到其他期刊?
  • 如果你已经在A期刊注册了,那么如何向B期刊投稿呢?需要两个步骤才能实现:

1. 在 Journal B 上以作者身份注册

  • 在类别中找到您要投稿的期刊,点击“查看期刊”、“在线投稿”、“登录”和“编辑我的个人资料”。在“编辑个人资料”页面上选中“作者”,然后“保存”。  

2. 提交

提交文章 http://cscanada.org/index.php/css/submission/wizard

在《加拿大社会科学》 上发表的文章  已获得 知识共享署名 4.0 (CC-BY)许可。

 加拿大社会科学 编辑部 

地址1055 Rue Lucien-L'Allier,  Unit #772, 蒙特利尔, QC H3G 3C4, 加拿大。

网址:  http://www.cscanada.net http://www.cscanada.org 
邮箱:  css@cscanada.net、css@cscanada.org