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S&P affirms Jordan’s BB-/B; outlook remains negative

S&P affirms Jordan’s BB-/B; outlook remains negative
Photo Credit: Arabianeye-Reuters

Mubasher: Standard and Poor's Global Ratings has affirmed Jordan’s 'BB-/B' rating, with a negative outlook, according to a recent report.

The Jordanian government will continue to contain fiscal, external balances in the next three years, assisted by the International Monetary Fund’s (IMF) programme, despite low growth rates.

During this period, economic growth will continue to be challenged by regional tensions, such as the wars in Syria and Iraq, which will result in continuing refugee inflows, the report indicated.

The negative outlook reflects ongoing challenges concerning Jordan's fiscal consolidation and external position.

The ratings agency believes Jordan will remain strategically important to bilateral donors, who will continue to provide fiscal and external funding support.