Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement

July 14, 2014

Preview Citation

Format: Chicago

Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement, (USA: International Monetary Fund, 2014) accessed November 23, 2024

Summary

This 2014 Article IV Consultation highlights that Grenada’s economy continues to face significant headwinds after a decade of natural disasters and economic shocks coalesced into a deep economic crisis by 2011–2012. Economic activity declined by more than 8 percent of GDP from peak to trough (2008–2012) as tourism and construction collapsed. After almost four years of decline, real GDP grew by 1.5 percent in 2013. To address the fiscal crisis, the authorities have initiated fiscal adjustment as part of their 2014 budget, and have subsequently approved a large package of revenue measures needed for the targeted consolidation.

Subject: Arrears, Asset and liability management, Debt restructuring, External debt, Fiscal consolidation, Fiscal policy, Public debt, Public financial management (PFM)

Keywords: Arrears, Caribbean, CR, Debt, Debt restructuring, Development partner, Financing, Financing pressure, Fiscal consolidation, Global, Grenada's economy, Growth prospect, ISCR, OECS government

Publication Details

Pages:

124
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/196
Stock No:

1GRDEA2014002
ISBN:

9781498363709
ISSN:

1934-7685

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