A historic moment for Jordan as Moody’s credit rating agency raised the country’s long-term sovereign credit rating from B1 to Ba3 with a stable outlook after 21 years. This upgrade signifies the resilience of Jordan’s economy in the face of regional and global challenges.
Moody’s attributed the rating increase to Jordan’s effective public financial management, macroeconomic policies, and risk mitigation measures that have strengthened the country’s ability to withstand external shocks. The proactive policies, including responses to the COVID-19 pandemic and other global challenges, have reinforced Jordan’s resilience amidst ongoing geopolitical tensions in the region.
Finance Minister Dr. Mohammad Al Ississ hailed this achievement as a recognition of the deep structural reforms implemented by the government to protect the middle class from global and regional shocks. Moody’s also praised Jordan’s commitment to broad structural reforms, highlighting the improvement in the business environment through legislative stability and investment law reforms.
The Central Bank Governor, Dr. Adel Sharkas, emphasized the success of economic policies and the maintenance of financial stability, reflecting the robust fundamentals of the economy. He believes that this upgrade sends a positive message to global markets, making Jordan an attractive and secure investment destination.
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