Ississ tells IMF it ‘must reform’ its system

Jordan News

last updated: Oct 17,2022

1-Ississ to the IMF You must reform your system AK — Minister of Finance Mohamad Al-Ississ attends a meeting of the International Monetary Fund on October 14, 2022. (Photo: Twitter)

AMMAN — During the meeting of finance ministers and central bank governors with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva in Washington this week, Minister of Finance Mohamad Al-Ississ emphasized that global financial institutions set policies for big companies and major countries, and this has led to an increase in polarization, according to Khaberni.اضافة اعلان

Ississ stressed that just as the IMF requires countries to effect structural reforms, the fund itself must carry out structural reforms of its system, which does not meet the needs of middle-income countries.

He pointed out that despite the waves of economic and global instability, Jordan weathered storms through proactive measures, as well as through gradually restructuring the revenue system to be based on progressive tax collection and expanding the tax base, instead of raising taxes for ordinary citizens, and that the benefit of this was tangible.

Ississ said His Majesty King Abdullah anticipated the global food crisis and under his directions the country raised the strategic stockpile of wheat two years before the crisis took place.

Ississ added that Jordan is an example of how the global economic system needs to strive to improve, since it now leaves many emerging markets with limited tools to deal with the complex problems imposed by global crises.

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