Ambiguity surrounds the financial mechanisms adopted by Saudi Arabia, Kuwait and the United Arab Emirates at a June 11 summit in Mecca to help Jordan navigate through a crippling economic crisis. The kingdom's debt has risen to record highs this year, totaling 96% of the gross domestic product, or $39 billion, while the unemployment rate rose to 18.5%.
The five-year, $2.5 billion package includes a deposit at the Central Bank of Jordan along with guarantees from the World Bank for Jordan to borrow funds and finance development projects. Jordanian authorities have not, however, made public the amount of the deposit, the terms of the guarantees or the share of the package allocated to development projects.