• Global geopolitical series: Jordan likely to extend support to israel-palestine peace efforts

    Source: FxWire Pro - Commentary / 19 Jun 2018 07:38:12   America/New_York

    Jordan, which has been on the opposition camp when it came to accepting President Donald Trump’s peace vision in the Middle East, where Jerusalem will be the capital of Israel with improved relations between Israel and Middle East countries, is likely to give into President Trump’s demands as the fiscal crisis in the country worsens and Trump allies arrive with aid packages.

    Jordanian King Abdullah II dissolved the Jordanian parliament after massive protest hit the country in response to the austerity policies pursued by the Jordanian government in accordance with the International Monetary Fund (IMF) demands against loans.

    To help Jordan overcome the difficulty, Saudi Arabia, United Arab Emirates, and Kuwait announced an aid package for Jordan on Monday of $2.5 billion. However, experts say that the fund is a mechanism to exert pressure on Jordan to accept the peace proposal forwarded by President Trump as all the above three countries support the Trump proposal.

    However, the package is unlikely to solve Jordan’s crisis as One-fourth of the amount will be distributed over five years which means 25 percent will be made as a deposit in the central bank, 25 percent guarantees to the World Bank, 25 percent support to the annual budget and 25 percent support to development projects. This is not the first time that the government received funds from Arab alliance. In 2012, after protests calling for King Abdullah II’s overthrow, the Gulf Cooperation Council (GCC) gave Jordan $5bn to finance development projects over a five-year period.

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