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Jordan, IMF reach $2bn loan agreement

The International Monetary Fund (IMF) has reached a $2bn loan agreement with Jordan, where the economy has been slowed by higher oil prices and uncertainty in the aftermath of the region's Arab Spring protests, Reuters has reported. "The IMF staff agreed to support Jordan's agenda for a socially acceptable fiscal consolidation," the IMF said. "It will provide liquidity during the next three years, which will allow the authorities to gradually implement their agenda."