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Jordan signed with the United States to ensure the euro bonds Bond Agreement valued at $ 1 billion
6/1/15
Oman: Mohamed Da'mh
Jordan and the United States signed the agreement yesterday to ensure the size of one billion and a half billion euro bond Bond, under which the US government to provide the necessary guarantees for Jordan to borrow from international markets during the current year.
The Convention is the third signed by the government with the US government, as Jordan was able to borrow by guaranteed by the US government bonds worth one billion and a quarter of a billion dollars through 2013 at an interest rate 503.2 per cent for seven years and one billion dollars at an interest rate 945.1 per cent and for the 5 years through 2014.
The agreement was signed in Dar es prime minister on Sunday on behalf of the Jordanian government and the Minister of Finance Umayya Toukan, and on the American side, director of the US Agency for International Development office in Jordan Beth flushing, as the Jordanian Prime Minister Abdullah signed Eagles and the US Ambassador in Amman Alice Wales Declaration on this agreement.
Under the agreement, the US Agency will issue guarantees include one hundred per cent of the obligations of principal and interest due from it, according to the bond maturity for 7 years and 5 years.
The signing of this agreement the result of Jordanian and American cooperation and the continued US support for Jordan economically under the conditions of security and economic challenges facing the region.
The Eagles, in a speech during the signing deepest thanks and appreciation to the Government and people of the United States of America on the commitment and confidence in Jordan ceremony, especially in light of regional economic conditions exceptional.
He stressed that the loan guarantee this is evidence to support the US US firm to the Government and people of the Hashemite Kingdom of Jordan and to meet the commitment made by President Obama to the king United. He pointed out that the third loan guarantee will help the Jordanian economy to adapt to the growing challenges posed by the situation in the region, which, including the supply of gas and the conflicts in Iraq and Syria interruption as will contribute to enable the Jordanian government to borrow from international markets at competitive interest rates.
He pointed out that this borrowing will help the government to finance expenses and services increased in vital sectors such as education and health, as will enhance the debugging process supported by the international donor community and the International Monetary Fund to stay on track and reduce the current levels of public debt.
For its part, Ambassador Wales confirmed that this agreement is the third that of the United States signs with Jordan is the largest agreement ensuring expect the United States with any country loans, also it confirmed that this agreement will enable Jordan to borrow from international markets the same interest that you get the US price, noting that the former two loans Conventions will provide Jordan about $ 500 million as a result of low interest rates.
and restored emphasizing the US commitment to support Jordan and to allow it to maintain the stability and prosperity that is desired. For his part, Toukan said that the financing needs of the Kingdom require in addition to domestic revenues loans and grants to cover operating and capital expenses and service debt.
He pointed out that the Convention provides for Jordan $ 5 $ 1 billion at interest rates around 5.2 percent, «a low price if We went to international markets without the American guarantee », stressing that this is a great support from the United States to Jordan and the message of the financial markets on confidence in the ability Jordan on its debt service and management.
It is noteworthy that the net public debt at the end of 2014 amounted to 556.2 billion dinars, or 8. What accounted for 80 of GDP in 2014 compared to about reaching 097.19 billion dinars, or 1. 80 per of GDP at the end of 2013, an increase of 7.0 percentage points.
It includes net debt balance General value of what has been borrowed to cover the accumulated cash deficit of the national electricity company which is about 64.4 billion dinars, the equivalent of about 1.18 percentage points of GDP by the end of 2014, which shows that the financial impact of the national electricity company borrowing has led to increase in net public debt balance of about 2.62 percent to about 8.80 of GDP estimated for 2014.
The bonds within the euro Bond financing plan approved by the general budget for the 2015 version of this law is not considered a new debt over the funding plan which was approved as achieve this funding balance between the internal and external debt and the trend towards external borrowing to finance the budget deficit and mitigate the domestic borrowing and not crowding out the private sector in obtaining the necessary funding to implement projects through the local market.
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6/1/15
Oman: Mohamed Da'mh
Jordan and the United States signed the agreement yesterday to ensure the size of one billion and a half billion euro bond Bond, under which the US government to provide the necessary guarantees for Jordan to borrow from international markets during the current year.
The Convention is the third signed by the government with the US government, as Jordan was able to borrow by guaranteed by the US government bonds worth one billion and a quarter of a billion dollars through 2013 at an interest rate 503.2 per cent for seven years and one billion dollars at an interest rate 945.1 per cent and for the 5 years through 2014.
The agreement was signed in Dar es prime minister on Sunday on behalf of the Jordanian government and the Minister of Finance Umayya Toukan, and on the American side, director of the US Agency for International Development office in Jordan Beth flushing, as the Jordanian Prime Minister Abdullah signed Eagles and the US Ambassador in Amman Alice Wales Declaration on this agreement.
Under the agreement, the US Agency will issue guarantees include one hundred per cent of the obligations of principal and interest due from it, according to the bond maturity for 7 years and 5 years.
The signing of this agreement the result of Jordanian and American cooperation and the continued US support for Jordan economically under the conditions of security and economic challenges facing the region.
The Eagles, in a speech during the signing deepest thanks and appreciation to the Government and people of the United States of America on the commitment and confidence in Jordan ceremony, especially in light of regional economic conditions exceptional.
He stressed that the loan guarantee this is evidence to support the US US firm to the Government and people of the Hashemite Kingdom of Jordan and to meet the commitment made by President Obama to the king United. He pointed out that the third loan guarantee will help the Jordanian economy to adapt to the growing challenges posed by the situation in the region, which, including the supply of gas and the conflicts in Iraq and Syria interruption as will contribute to enable the Jordanian government to borrow from international markets at competitive interest rates.
He pointed out that this borrowing will help the government to finance expenses and services increased in vital sectors such as education and health, as will enhance the debugging process supported by the international donor community and the International Monetary Fund to stay on track and reduce the current levels of public debt.
For its part, Ambassador Wales confirmed that this agreement is the third that of the United States signs with Jordan is the largest agreement ensuring expect the United States with any country loans, also it confirmed that this agreement will enable Jordan to borrow from international markets the same interest that you get the US price, noting that the former two loans Conventions will provide Jordan about $ 500 million as a result of low interest rates.
and restored emphasizing the US commitment to support Jordan and to allow it to maintain the stability and prosperity that is desired. For his part, Toukan said that the financing needs of the Kingdom require in addition to domestic revenues loans and grants to cover operating and capital expenses and service debt.
He pointed out that the Convention provides for Jordan $ 5 $ 1 billion at interest rates around 5.2 percent, «a low price if We went to international markets without the American guarantee », stressing that this is a great support from the United States to Jordan and the message of the financial markets on confidence in the ability Jordan on its debt service and management.
It is noteworthy that the net public debt at the end of 2014 amounted to 556.2 billion dinars, or 8. What accounted for 80 of GDP in 2014 compared to about reaching 097.19 billion dinars, or 1. 80 per of GDP at the end of 2013, an increase of 7.0 percentage points.
It includes net debt balance General value of what has been borrowed to cover the accumulated cash deficit of the national electricity company which is about 64.4 billion dinars, the equivalent of about 1.18 percentage points of GDP by the end of 2014, which shows that the financial impact of the national electricity company borrowing has led to increase in net public debt balance of about 2.62 percent to about 8.80 of GDP estimated for 2014.
The bonds within the euro Bond financing plan approved by the general budget for the 2015 version of this law is not considered a new debt over the funding plan which was approved as achieve this funding balance between the internal and external debt and the trend towards external borrowing to finance the budget deficit and mitigate the domestic borrowing and not crowding out the private sector in obtaining the necessary funding to implement projects through the local market.
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