Bloomberg

31 captures
20 Oct 2011 - 18 Nov 2020
About this capture
Bloomberg.com
Businessweek.com
Bloomberg TV
Premium
Jordan’s King Appoints PM After Cabinet Resigns
By Massoud A. Derhally - 2011-10-17T15:50:29Z
Jordan’s King Abdullah appointed Awn al-Khasawneh, a former judge at the International Court of Justice, as prime minister after accepting the Cabinet’s resignation.
Khasawneh was given the task of forming a new government, the royal court said today in an e-mailed statement. He replaces Marouf Bakhit, a former army general who critics said was slow to implement political and economic changes following protests inspired by a wave of popular uprisings across the Arab world that ousted leaders in Egypt, Tunisia and Libya.
“This was always likely to happen,” David Butter, regional head of the Middle East at the Economist Intelligence Unit, said by telephone. “Bakhit is taking the rap for the unsatisfactory scope of constitutional reforms in the country.”
Jordan, one of the smallest economies in the Middle East, relies on foreign investment and grants to support its budget and current-account deficits. The government has increased public salaries and subsidies since pro-reform protests broke out as part of this year’s regional turmoil.
King’s Promises
King Abdullah has changed the government twice this year and promised to ease restraints on political parties and allow the formation of governments based on a parliamentary majority, without saying when this could happen.
“This happens quite often in Jordanian politics,” Butter said. “Bakhit had already attracted criticism for the forced resignation of the central bank governor last month.”
Central bank Governor Faris Sharaf resigned and was replaced by his deputy, Mohammad Said Shahin. Bakhit had criticized Sharaf, who wanted the government to rein in spending amid a widening budget deficit, for being a “liberal.”
Jordan’s economy will probably grow 3 percent this year and 3.5 percent in 2012, as the regional political turmoil reduces remittances and foreign investment, Finance Minister Mohammed Abu Hammour said in a Sept. 7 interview. The budget deficit for this year will be about 5.5 percent of output, he said. The International Monetary Fund estimates the economy will grow 2.5 percent in 2011.
Excluding foreign grants, the government had a budget deficit of about 970 million dinars ($1.37 billion) in the first eight months of the year compared with same period last year, according to the Finance Ministry. Jordan’s trade deficit in the first eight months of the year widened 19.7 percent to 4.67 billion dinars, the Department of Statistics said in an e-mailed statement today.
Khasawneh, 61, is a former chief of the royal court and previously served as a legal adviser to the late King Hussein, father of the current monarch. He is a graduate of the U.K.’s University of Cambridge and was vice president of the ICJ from 2006 to 2009.
Jordan’s opposition, made up largely of Islamist groups that oppose peace with Israel as well as members of the communist party, has staged protests this year to demand reform and an end to corruption, inspired by the region’s pro-democracy revolts.
To contact the reporter on this story: Massoud A. Derhally in Beirut, Lebanon at mderhally@bloomberg.net​.
To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net​.
COMMENTS
QUEUE
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.
Sponsored Link
HEADLINES
MOST POPULAR
RECOMMENDED
U.S. Stocks Fall as Consumer Data Bolsters Tapering Bets
Four IRS Employees to Be Interviewed in Congress Probe
Consumer Sentiment in U.S. Rises to Highest Since July 2007
Pension-Fund Swings Make Case for Cutting Risk: Chart of the Day
Goldman Failed Deals Yield Bausch Merger Fee Advising Both Sides
How Halsey Minor Blew His Tech Fortune on Way to Bankruptcy
More News
Advertisement
Most Popular On
Genetically Modified Wheat Isn't Supposed to Exist. So What's It Doing in Oregon?
America's 50 Best Cities
How Fast-Food Eaters Split Along Ethnic Lines
Eric Schmidt Invests in Obama's Big Data Brains
What Gmail's New Features Do
Visit Businessweek.com
Sponsored Links
Advertisement
Advertisements
BLOOMBERG.COM
News
Opinion
Markets
Personal Finance
Tech
Sustainability
Luxury
TV
Video
Radio
Archives

ABOUT
Our Company
Careers
Advertising
Licensing
Press Room
Trademarks
Terms of Service
Privacy Policy

SUPPORT AND CONTACT

STAY CONNECTED
BLOOMBERG TERMINAL
Professional
Subscriber Login
FAQ
RELATED BLOOMBERG SITES
Bloomberg Markets Magazine
Open Bloomberg
Bloomberg Link
Bloomberg Blog
Bloomberg Books
BLOOMBERG PREMIUM SERVICES
Bloomberg New Energy Finance
Bloomberg Sports
BloombergBlack
MOBILE APPS
Bloomberg
Bloomberg Radio+
Bloomberg TV+
Bloomberg Businessweek+
Bloomberg Markets+
Bloomberg Anywhere
©2013 BLOOMBERG L.P. ALL RIGHTS RESERVED.
Jobs by Indeed Rate this Page Made in NYCAd Choices
MARKET SNAPSHOTDJIAS&P 500NASDAQSTOXX 50FTSE 100DAX NikkeiHang SengS&P/ASX 200
Our CompanyProfessionalAnywhere
HOME Bloomberg Homepage Mobile Apps Businessweek.com Bloomberg Visual Data Insights Series Bloomberg Blog QUICKNEWS Top Headlines Most Popular Exclusive Law Entrepreneurs Leaders Muse: Arts & Culture Economy Environment Science Sports Markets Magazine Pursuits Magazine Regions U.S. China Europe Asia U.K. & Ireland Australia & New Zealand Canada India & Pakistan Japan Africa Eastern Europe More Regions Markets Commodities Currencies Bonds Stocks Energy Markets Municipal Bonds Emerging Markets Funds Islamic Finance More Markets Industries Energy Technology Real Estate Finance Health Care Transportation Insurance Retail Media More Industries OPINION Editorials Commentary Echoes The Ticker World View BlackRockMARKET DATA Stocks Stock Futures World Indexes Gainers & Losers Regional Indexes Earnings Currencies World Currencies Foreign Exchange Rates Forex Trading Videos Commodities Energy Prices Metals Prices Agricultural Prices Rates & Bonds US Treasuries UK Gilts German Bunds Japanese Bonds Australian Bonds US Corporate Bonds US Consumer Rates ETFs Mutual Funds Economic Calendar Watchlist European Debt Crisis PERSONAL FINANCE Overview Saving & Investing Wealth Real Estate Retirement Planning Financial Advisers Taxes Blog: Ventured & Gained Real Cost Of Money Gallery Insurance & Health Portfolio Impact Calculators Watchlist (Portfolio Tracker) TECH Overview Social Media Mobile & Wireless Web Enterprise Tech TV, Games & Movies Apple Tech Deals Global Tech Slideshows Videos POLITICS Overview Elections White House Congress State & Local Political Capital Videos Live Blogs SUSTAINABILITY Overview Energy Corporate Sustainability Policy Natural Resources Health & Population Slideshows Videos Blog: The Grid LUXURY Muse: Arts & Culture Billionaires Living Property Travel Well Spent Loot Blog Videos TV Live TV Channel Finder Personalities iPad App Schedule U.S. Asia Europe Shows Surveillance Market Makers Lunch Money Street Smart Bloomberg West Game Changers More Shows VIDEO Must See Latest Most Watched Interviews Playlist RADIO Live Radio Shows Schedule Personalities Podcasts First Word Surveillance Taking Stock More Podcasts
Sallie Mae Shocks Bondholders in Asset Strip Sallie Mae Split Marks Bet on Much-Abused Private Student Loans1:18Smoke Without Fire: The Business of E-CigarettesNYC Deputy Comptroller for Pensions Larry Schloss Pension Chief Seeks $500,000 Managers to Cut Out StreetIPads Supplanting Blueprints Raises Builders’ Productivity IPads Supplanting Blueprints Boosts Builder ProductivityJonathan Weil Weil: Government’s Deal With Citi Should Not Be Secret1:18Elon Musk's Hyperloop: Real or Fantasy?