FinPol Digest

 Jordan’s parliamentary elections have delivered a historic result for the Islamic Action Front (IAF), the largest opposition party, which has won 32 seats, marking the party's best-ever performance. As the political arm of the Muslim Brotherhood, the IAF has long been a significant player in Jordanian politics. However, this latest victory signals a turning point, as the IAF is now poised to have a much stronger influence in shaping Jordan's political and economic future. These elections were the first to be held under Jordan’s newly revamped electoral law, introduced in 2022. This law, designed to strengthen the role of political parties in the country’s governance, allocated 41 out of 138 parliamentary seats to party lists, a significant shift from Jordan's tribal-dominated political system. The IAF, taking full advantage of the new law, won 18 seats on the national party list and 14 more on local lists, including in traditionally tribal areas. The gains made by the IAF ...

 Mazen Al-Faraya, the Interior Minister of Jordan, recently met with his Iraqi counterpart, Abdul Amir Al-Shammari to discuss effective ways to improve security cooperation. The discussion focuses on numerous important aspects pertaining to regional security and cooperation such as the movement of goods, vehicles, and people across the two nations. Security and administrative expertise were also exchanged between the two leaders. During his stay in Baghdad, Mazen Al-Faraya plans to meet with several other Iraqi officials . Al Shammari emphasized the necessity of collaboration between the two nations to address regional security challenges as well as the growth of economic cooperation in a way that enhances development in the two nations. The Jordanian Minister of Interior responded by reiterating his nation's willingness to improve relations with Iraq on a number of security-related fronts, chief among them the fight against drugs and collaborative efforts to combat it. ...

 Recently, the International Monetary Fund remarked that Jordan needed urgent structural economic reforms in order to increase the growth beyond the average of 2% to 3%. The IMF is of the opinion that in order to generate more jobs to curb high unemployment, significant reforms were necessary in Jordan. Ron van Rooden, an IMF official, remarked that the rate of unemployment was still high in Jordan, especially for women and the youth. Given these circumstances, structural reforms are necessary to achieve inclusive growth and create more jobs. Currently, the unemployment rate stands at 22.9%, and without significant growth, it is not possible to remedy the current situation. For 2023, the growth rate forecast was 2.6%. However, this growth was still insufficient to better the standards of living of the country which has a current population of eleven million and an annual population growth rate of almost 2%. However, on the positive side, the IMF official has called Jordan a succes...

 According to the General Security Directorate, 12.8 million pills of the illegal stimulant Captagon were destroyed by Jordanian authorities. It is the most recent example of government measures to stop the flow of drugs, which primarily originate from Syria. The directorate announced the destruction as the outcome of tenacious operations against traffickers "around the kingdom" and published a photo of security agents placing bags in a furnace. The statement, issued late on Wednesday, stated the police forces are working with the military and customs units to boost information and reconnaissance to stop "the introduction of these drugs and their movement through the kingdom". According to the statement, the Captagon was destroyed together with 2.6 tonnes of hashish and three kilograms of cocaine connected to 43 narcotics cases. The agency said that the seized materials were obliterated at 1,000oC in special furnaces. In the past, Jordan has served as both a market...

  Jordan and Russia have agreed to step up coordination in tackling instability in southern Syria, which Amman blames on Iran-linked militias and multi-billion dollar drug smuggling across its border, Jordan's Foreign Minister said on Thursday, Reuters reports. Ayman Al Safadi was speaking after talks with Russian Foreign Minister, Sergei Lavrov, that centered on south Syria to "neutralize the potential dangers of instability" in the area. "There is a need for coordination and this is the focus of expansive discussions. The danger of drug smuggling to Jordan and across its territory by hostile militias," Safadi told a news conference. Russia, whose military intervention helped Syrian President, Bashar Al Assad, regain most of the country from insurgents during an over-decade-long civil war backed a political solution to end the conflict, Lavrov said. The growing influence of Iranian-backed militias, including Lebanon's Hezbollah group in southern Syria in re...

I want to share something interesting about what I read today. It's about how Jordan, Egypt, and Iraq are meeting up to support ties and construct a typical territorial vision in the midst of changing international real factors. In fact, King Abdullah, President Abdel Fattah El-Sisi, and Prime Minister Mustafa Al-Kadhimiheld a one-day highest point in Baghdad, they're third inside three years, during which they talked about normal difficulties and consented to fortify monetary participation.  However, it will require a very long time to make an interpretation of the pioneers' vision into the real world. That vision, as portrayed by Al-Kadhimi, would see" another Levant" arising after the times of disturbance that have cleared the district, highlighting a US intrusion of Iraq, partisan infighting, Iranianintruding in the undertakings of Iraq and Syria, and the development of Daesh and its branches. For me, The reality was the main visit by an Egyptian head of state...

 A number of Arab countries have condemned an attack on a fuel transport ship anchored at Jeddah port on Monday. Being labelled as a "terrorist attack", the oil tanker was hit by an explosive-laden boat, according to a statement released by Saudi Arabia's Ministry of Energy. Singaporean shipping firm Hafnia also confirmed that the oil tanker was struck by a blast from an "external source" at the Jeddah terminal. Reportedly, the ship was carrying 60,000 tons of gasoline that caused an explosion on board. Releasing a statement on its website, the shipping company confirmed that all 22 sailors on board the BW Rhine escaped the blast without suffering any injury. “BW Rhine has been hit from an external source whilst discharging at Jeddah, Saudi Arabia at approximately 00:40 local time on 14 December 2020, causing an explosion and subsequent fire on board,” Hafnia said in its statement, as reported by Reuters. According to the Saudi energy ministry spokesperson, the ...