IMF approves $720 mn Jordan loan deal

The International Monetary Fund said Wednesday it has approved a $723 million three-year line of credit to Jordan aimed at boosting the kingdom at a time of war in the region. "The executive board of the International Monetary Fund today approved a three-year extended arrangement under the extended fund facility for Jordan," the Fund said in a statement. It said the $723 million loan amounting to 150 percent of Jordan's quota was to support the country's "economic and financial reform program".