as oil. Debt, poverty, and
unemployment are fundamental problems, but King ABDALLAH, since
assuming the throne in 1999, has undertaken some broad economic
reforms in a long-term effort to improve living standards. 'Amman in
the past three years has worked closely with the IMF, practiced
careful monetary policy, and made substantial headway with
privatization. The government also has liberalized the trade regime
sufficiently to secure Jordan's membership in the WTrO (2000), a
free trade accord with the US (2000), and an association agreement
with the EU (2001). These measures have helped improve productivity
and have put Jordan on the foreign investment map. The US-led war in
Iraq in 2003 dealt an economic blow to Jordan, which was dependent
on Iraq for discounted oil (worth $300-$600 million a year). Several
Gulf nations have provided temporary aid to compensate for the loss
of this oil; when this foreign aid expires, the Jordanian government
has pledged to raise retail petroleum product prices and the sales
tax base. Other ongoing challenges include fiscal adjustment to
reduce the budget deficit, broader investment incentives to promote
job-creating ventures, and the encouragement of tourism.

Juan de Nova Island
Up to 12,000 tons of guano are mined per year.

Kazakhstan
Kazakhstan, the largest of the former Soviet republics in
territory, excluding Russia, possesses enormous fossil fuel reserves
as well as plentiful supplies of other minerals and metals. It also
is a large agricultural - livestock and grain - producer.
Kazakhstan's industrial sector rests on the extraction and
processing of these natural resources and also on a growing
machine-building sector specializing in construction equipment,
tractors, agricultural machinery, and some defense items. The
breakup of the USSR in December 1991 and the collapse in demand for
Kazakhstan's traditional heavy industry products resulted in a
short-term contraction of the economy, with the steepest annual
decline occurring in 1994. In 1995-97, the pace of the government
program of economic reform and privatization quickened, resulting in
a substantial shifting of assets into the private sector. Kazakhstan
enjoyed double-digit growth in 2000-01 - and a solid 9.5% in 2002 -
thanks largely to its booming energy sector, but also to economic
reform, good harvests, and foreign investment. The opening of t