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Middle EastMarch 5 2007

Financial blue skies amid the region’s storms

Given its sound financial infrastructure and current economic boom, the surge in Jordanian bank profits looks set to continue. Stephen Timewell reports from Amman.
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Political crises surround this little kingdom but despite having Israel, Palestine, Syria and Iraq on its borders, Jordan is relishing its role as an island of stability and is managing to attract considerable amounts of foreign investment and produce strong economic growth.

Between 2000 and 2005, economic growth almost doubled to 6% a year compared with the previous five-year period and according to the latest International Monetary Fund (IMF) Article IV consultation in November, 2006, growth was expected to be 6% or more in 2006.

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