Jordan

October 2008 | Ratings Update

Jordan's solid relations with the US were further enhanced by the news in late September that Washington intends to increase its aid to Amman by 43% this year to US$660mn, and continue to make similar payments until 2013. The aid will be divided into economic (US$360mn) and military assistance (US$300mn). Although the agreement, signed by US Secretary of State Condoleezza Rice and Jordanian Foreign Minister Salaheddine al-Bashir in New York on September 22, is non-binding, we believe that future administrations are likely to honour the commitment. We forecast the central government to run a fiscal deficit of US$811mn (or 4.4%

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