March 15, 2020 / 4:59 PM / 21 days ago

Jordan's central bank cuts bank reserves to inject liquidity

AMMAN, March 15 (Reuters) - Jordan’s central bank cut compulsory reserves for commercial banks to 5% from 7% on Sunday to inject more than 500 million dinars ($705 million) of extra liquidity to mitigate the negative impact of coronavirus on the debt-straddled economy.

Central Bank Governor Zaid Fariz told Reuters that Jordan’s commercial banks were also asked to delay payments of loan instalments by companies and to allow rescheduling of retail loans without penalties to ease losses incurred by the private sector and to help individual borrowers. (Reporting by Suleiman Al-Khalidi; Editing by Alexander Smith)

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