AMMAN, Jordan — Escalating economic pressures on Jordan threatened to turn into a political crisis on Monday, as the prime minister resigned amid nationwide protests against proposed tax and price increases in a country that has suffered through years of declining living standards.

Prime Minister Hani Mulki stepped down after two years in office, but there was no sign that his departure would mollify the protesters or change unpopular austerity policies proposed by the government and backed by the International Monetary Fund.

The replacement of a prime minister is a tactic frequently used by King Abdullah II, Jordan’s ruler, in an attempt to placate the populace when discontent threatens the stability of the kingdom. But behind the recent protests is a collision of international factors that are far less easy to manage.

Western lenders are demanding painful measures to balance the budget and liberalize the economy even though Jordan’s standard of living has been declining for years. And at the end of 2017, the petroleum-rich Persian Gulf monarchies cut off $1 billion a year in aid that had covered many of Jordan’s big expenses for the previous five years.