Yesterday was a big day for the Hashemite Kingdom of Jordan, with two major announcements:
The International Monetary Fund staff has reached a Staff-Level Agreement with Jordan on the First Review under the Extended Fund Facility, which was approved by the IMF’s Executive Board on January 10, 2024.
Moody’s Ratings raised Jordan’s long-term sovereign credit rating in local and foreign currency from B1 to Ba3 with a stable outlook, marking the first raise in Jordan’s credit rating in 21 years.
The successful meeting of all of the IMF benchmarks for the first review and the ratings upgrade, despite the regional challenges, is testament to the multi-year programme of structural reform that the Kingdom has pursued.
Lion’s Head Global Partners is proud to be an advisor to the Ministry of Finance and looks forward to continuing to work together in the future.
Read full IMF report here: https://www.imf.org/en/News/Articles/2024/05/09/pr-24149-jordan-agreement-on-the-first-review-under-the-eff
Read full Moody’s report here: Moody’s – credit ratings, research, and data for global capital markets (moodys.com)
