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|18 November, 2018

Jordan PM says kingdom will pay "heavy price" if IMF-backed tax law not approved

Kingdom would have to pay even higher interest rates on its substantial foreign debt.

Amman skyline, Jordan.

Amman skyline, Jordan.

AMMAN- Jordan's Prime Minister Omar al Razzaz said on Sunday the kingdom will pay a "heavy price" if parliament fails to approve new IMF-backed tax legislation.

Razzaz told deputies who are debating the legislation that failure to approve the bill would mean the kingdom would have to pay even higher interest rates on its substantial foreign debt.

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(Reporting by Suleiman Al-Khalidi Editing by Andrew Heavens) ((suleiman.al-khalidi@thomsonreuters.com; +962 79 5521407; Reuters Messaging: suleiman.al-khalidi.reuters.com@thomsonreuters.net))