Jordan’s Financial Sector Performance During the COVID-19 Pandemic

   

 

Jordan’s Financial Sector Performance During the COVID-19 Pandemic- August 2020

 

 

On March 11, 2020, the World Health Organization (WHO) declared COVID-19 a pandemic. Soon after, the swift and massive shock of COVID-19 and the various shutdown measures to contain it have plunged the global economy into a severe recession. Nevertheless, since the outbreak began, “more than 1,400 measures have been adopted to support the financial sector by more than 140 different countries” (World Bank). Indeed, the objectives of the adopted measures are to stabilize financial markets, and maintain the flow of credit and liquidity to the most affected sectors, especially small and medium enterprises, as well as households.

 

The International Monetary Fund (IMF) estimates that global public debt (as a percentage of Gross Domestic Product / GDP) will increase by 18.7% compared to the 10.5% increase following the 2008 global financial crisis. In addition, the IMF expects that the global fiscal deficit will increase by 10% of GDP. Again, this ratio is higher than that caused by the 2008 global financial crisis (4.9%).

 

 

يقوم منتدى الاستراتيجيات الأردني بمشاركة المعلومات الاقتصادية المهمة التي يتم تجميعها من مصادر عالمية مختلفة؛ وذلك بهدف نشر الوعي حول الأمور الاقتصادية والاجتماعية والتوعية في ظل التغييرات التي يشهدها العالم وذلك لمواكبة آخر التطورات وطرح مجال للتفكير في حلول تعمل على تنمية وتعزيز الاقتصاد الوطني.

Jordan Strategy Forum shares important economic information that is collected from various international sources; with the aim of raising economic and social awareness. This is done in order to track the latest developments and suggest solutions that would develop and strengthen the national economy

 

 

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