Jordan’s credit rating reflects confidence in national economy, says JCC

The fact that Standard and Poor’s (S and P) has maintained Jordan’s credit rating confirms that the country is on the right economic track, considering the economic challenges that the region and the world are currently facing, said Firas Sultan, a representative of the financial and banking sector in the Jordan Chamber of Commerce (JCC). Sultan stated that the agency’s decision to maintain Jordan’s long-term sovereign credit rating at (B+/Stable/B) is a testament to the success of the Kingdom in maintaining the stability of its macro economy and establishing a strong monetary foundation through the Central Bank of Jordan’s careful policies. This classification represents great evidence of the overall economic structural reforms implemented by Jordan to enhance its investment appeal and proceed with strategic projects in many promising economic sectors, he added in a statement on Wednesday. According to Sultan, the international classifications serve as a certificate and message to the world, helping Jordan acquire grants and loans necessary for economic growth from donor countries. It also shows the government’s capability to meet its financial responsibilities. He emphasized the significance of the actions implemented by the Central Bank of Jordan, which successfully upheld the stability of the Jordanian dinar exchange rate and made deposits in the currency more appealing, provided defense against worldwide inflationary pressures, and allowed for the accumulation of foreign currency reserves that can cover extended periods of imports to ultimately improve the investment and business climate within the Kingdom.

Source: Jordan News Agency