TREASURY, FOREIGN RESERVES ARE JORDAN'S PRIORITIES
Jordan's key economic priorities are
having a sound national treasury and adequate foreign exchange
reserves, Prime Minister Zeid al-Rifa'i said.
    "First, the national treasury should be in sound shape when
dealing with the public and other countries so that its
credibility is preserved," he said in a television interview
Saturday.
    "The second priority is to maintain an acceptable level of
foreign exchange reserves to provide (the) stability and
confidence needed by the government to meet foreign
commitments."
    Rifa'i said Jordan's outstanding government-guaranteed and
commercial loans total 902 mln dinars with a debt service ratio
of 14.9 pct.
    The figure was sharply lower than the 1.02 billion dinars
in outstanding loans at the end of September, according to
latest Central Bank figures.
    Rifa'i dismissed the view of some bankers and economists
here that the dinar, which is pegged to a basket of currencies,
is overvalued.
    "The dinar is strong and stable and we intend to preserve
its stability," he said.
    The prime minister said he hoped the next Arab summit would
tackle the question of continuing financial aid to Jordan.
Under a 10-year agreement reached in 1978, Jordan was to
receive a total of 1.25 billion dlrs annually from Algeria,
Iraq, Kuwait, Libya, Qatar, Saudi Arabia and the United Arab
Emirates to help it resist Israel.
    But only Saudi Arabia met its obligations, while the others
failed because of falling income due to lower oil prices.
 REUTER
