The Washington-headquartered IMF has approved multibillion-dollar loans to Jordan and Morocco, as both countries look to prop up their stuttering economies and stave off internal unrest.

Jordan will receive an immediate cash loan of $385m and about $2bn in total over the next three years, while Morocco will receive $6.21bn over the next two years, with more than half that figure available in the next 12 months.

Both countries have moved to implement constitutional reforms in the wake of the Arab Spring uprisings, promising renewed spending on social infrastructure projects in a bid to head off growing unrest.

However, broader regional issues, including the Syrian civil war and unrest in Egypt, have had an impact on core economic sectors, such as tourism, in both countries.

The IMF loans are designed to support continued macroeconomic growth while aiding ongoing structural reforms.

“The Jordanian authorities have developed an economic programme focused on achieving fiscal and external sustainability in a socially acceptable manner, while strengthening growth prospects,” says Christine Lagarde, managing director and chair of the IMF Executive Board. “The programme envisages supporting confidence as well as strong medium-term consolidation in the fiscal and energy sectors.”

Referring to Morocco, Lagarde says the country’s strong economic policies and wide-ranging structural reforms had “contributed to solid macroeconomic performance, notably robust growth, low inflation and a resilient banking system”.

 “Notwithstanding these comprehensive policy measures and favourable macroeconomic prospects, Morocco faces external risks linked to uncertainties in the eurozone and potential oil price increases,” she says. “A two-year arrangement under the Precautionary and Liquidity Line will provide Morocco with a useful insurance policy for meeting immediate financing needs if these risks materialise, strengthening market confidence and facilitating better access to private capital markets. The authorities intend to treat the arrangement as precautionary.”