Middle East and Central Asia > Jordan

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International Monetary Fund. Statistics Dept.
This Technical Assistance report on Jordan discusses that financial system of Jordan is dominated by other depository corporations (ODC), which constitute around 63 percent of the financial system’s assets. The technical assistance mission delivered objectives and agreed with the authorities on an action plan to improve the country’s monetary statistics. Some progress has been made in the Central Bank trial accounts regarding the sectorization and classification of the financial instruments. The Central Bank of Jordan (CBJ) has made substantive progress in improving human resource skills among staff. The accounting principles are found to be broadly in line with the methodology of the IMF with some departures related to market valuation. The accounting and valuation methodology implemented by the ODCs in Jordan are broadly in line with the recommended compilation practices identified in the Monetary and Financial Statistics Manual and Compilation Guide. Considering the change in the source data since 2014, the mission re-mapped the source data, using data from the aggregated balance sheet of the banking sector and the accompanying schedules through a bridge table. The mission built a time series for all the required data and created a tool linking the data to the Standardized report forms. The tool provides CBJ staff with a simpler method for data compilation.
International Monetary Fund
This 2009 Article IV Consultation highlights that Jordan’s money and financial markets have weakened since mid-2008. Bank deposits edged down slightly in October but subsequently recovered, with the share of dinar deposits continuing to increase. Executive Directors have noted that sound macroeconomic management has enhanced Jordan’s resilience to the global crisis. Directors have also emphasized that, in light of the economy’s close ties with the region and reliance on external financing, near-term policies should remain focused on guarding against vulnerabilities.
Ms. Daria V Zakharova
This paper reviews some broad principles of fiscal coverage, building on cross-country experience. It discusses the level of coverage that would be appropriate to conduct good quality fiscal analysis, while striking the right balance between the costs and the benefits of expanding the coverage. In this context, the paper examines the current status of statistical fiscal coverage in the countries of the Middle East and Central Asia (MECA), and proposes operational approaches to improving it.
International Monetary Fund
This paper focuses on the Fifth Post-Program Monitoring Discussions with Jordan. Jordan’s economic performance remains strong. Growth is robust, core inflation is contained, the current account deficit is narrowing, reserves are comfortable, and the fiscal situation continues to improve. The Fifth Post-Program Monitoring Discussions focused on a large current account deficit, still high public debt, and rapid credit growth. The authorities consider the outlook for the Jordanian economy as strong, including on growth, inflation, and the current account.
International Monetary Fund
Based on data collected on a wide range of financial sector indicators, new indices of financial development for countries in the Middle East and North Africa (MENA) are constructed, encompassing six themes: development of the monetary sector and monetary policy, banking sector development, nonbank financial development, regulation and supervision, financial openness, and institutional quality. The paper finds that the degree of financial development varies across the region. Some countries have relatively well-developed banking sectors and regulatory and supervisory regimes. However, across the region, more needs to be done to reinforce the institutional environment and promote nonbank financial sector development. Based on a subset of indicators, the MENA region is found to compare favorably with a few other regions, but it ranks far behind the industrialized countries and East Asia.
International Monetary Fund
The report highlights the actions taken by the authorities to address the issues raised by the 2002 Data Report on the Observance of Standards and Codes (ROSC) mission for all macroeconomics statistics included in the ROSC exercise, namely national accounts, price, government finance, monetary, and balance-of-payments statistics. It also analyzes the authorities' plans for further improving the quality of the statistics, and reviews Jordan’s current data dissemination practices against the requirements of the Special Data Dissemination Standard (SDDS).
International Monetary Fund
This Report on the Observance of Standards and Codes (ROSC) provides a review of Jordan’s data dissemination practices against the IMF’s General Data Dissemination System (GDDS), complemented by an in-depth assessment of quality of national accounts, consumer and producer price indices, and government finance, monetary, and balance-of-payments statistics. The assessment reveals that Jordan participates in the GDDS and meets the recommendations for the coverage, periodicity, and timeliness of most data categories. Jordan’s macroeconomic statistics also broadly meet the periodicity requirements of the SDDS.
Mr. George Kopits
and
Mr. J. D. Craig

Abstract

Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.