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.
  

