FREE BOOKS

Author's List




PREV.   NEXT  
|<   535   536   537   538   539   540   541   542   543   544   545   546   547   548   549   550   551   552   553   554   555   556   557   558   559  
560   561   562   563   564   565   566   567   568   569   570   571   572   573   574   575   576   577   578   579   580   581   582   583   584   >>   >|  
lomatic representation in US: chief of mission: Ambassador Fayiz A. TARAWNEH chancery: 3504 International Drive NW, Washington, DC 20008 telephone: [1] (202) 966-2664 FAX: [1] (202) 966-3110 US diplomatic representation: chief of mission: Ambassador Wesley W. EGAN, Jr. embassy: Jabel Amman, Amman mailing address: P. O. Box 354, Amman 11118 Jordan; APO AE 09892-0200 telephone: [962] (6) 820101 FAX: [962] (6) 820159 Flag: three equal horizontal bands of black (top), white, and green with a red isosceles triangle based on the hoist side bearing a small white seven-pointed star; the seven points on the star represent the seven fundamental laws of the Koran Economy ------- Economic overview: Jordan is a small Arab country with inadequate supplies of water and other natural resources such as oil and coal. Jordan benefited from increased Arab aid during the oil boom of the late 1970s and early 1980s, when its annual real GNP growth averaged more than 10%. In the remainder of the 1980s, however, reductions in both Arab aid and worker remittances slowed real economic growth to an average of roughly 2% per year. Imports - mainly oil, capital goods, consumer durables, and food - outstripped exports, with the difference covered by aid, remittances, and borrowing. In mid-1989, the Jordanian Government began debt-rescheduling negotiations and agreed to implement an IMF-supported program designed to gradually reduce the budget deficit and implement badly needed structural reforms. The Persian Gulf crisis that began in August 1990, however, aggravated Jordan's already serious economic problems, forcing the government to shelve the IMF program, stop most debt payments, and suspend rescheduling negotiations. Aid from Gulf Arab states, worker remittances, and trade contracted; and refugees flooded the country, producing serious balance-of-payments problems, stunting GDP growth, and straining government resources. The economy rebounded in 1992, largely due to the influx of capital repatriated by workers returning from the Gulf, but the recovery was uneven throughout 1994 and 1995. The government is implementing the reform program adopted in 1992 and continues to secure rescheduling and write-offs of its heavy foreign debt. Debt, poverty, and unemployment remain Jordan's biggest on-going problems. GDP: purchasing power parity - $19.3 billion (1995 e
PREV.   NEXT  
|<   535   536   537   538   539   540   541   542   543   544   545   546   547   548   549   550   551   552   553   554   555   556   557   558   559  
560   561   562   563   564   565   566   567   568   569   570   571   572   573   574   575   576   577   578   579   580   581   582   583   584   >>   >|  



Top keywords:
Jordan
 

remittances

 

growth

 

rescheduling

 

problems

 

government

 
program
 

resources

 

country

 

worker


implement

 

negotiations

 

payments

 

capital

 

economic

 

Ambassador

 

representation

 

telephone

 

mission

 
suspend

August
 
TARAWNEH
 
crisis
 

forcing

 

shelve

 
Persian
 

aggravated

 
needed
 

agreed

 
International

Washington

 
Jordanian
 
Government
 

supported

 
states
 
structural
 

reforms

 
deficit
 

budget

 

designed


gradually

 
reduce
 

chancery

 

refugees

 

foreign

 

poverty

 
reform
 
adopted
 

continues

 
secure