Grenada: 2009 Article IV Consultation, Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Modification of Performance Criterion, and Financing Assurances Review-Staff Report; Public Information Notice; and Press Release.

January 12, 2010

Preview Citation

Format: Chicago

Grenada: 2009 Article IV Consultation, Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Modification of Performance Criterion, and Financing Assurances Review-Staff Report; Public Information Notice; and Press Release., (USA: International Monetary Fund, 2010) accessed November 24, 2024

Summary

This 2009 Article IV Consultation highlights that economic activity in Grenada is slowing significantly, reflecting the drag of the global crisis on tourism receipts, foreign direct investment, and remittances. Commercial banks have remained resilient, but the intervention of the Trinidad and Tobago-based CL Financial Group has heightened financial uncertainty. All quantitative targets for end-June 2009 were met. Executive Directors have commended the Grenadian authorities for the satisfactory performance of their economic program under these highly challenging circumstances.

Subject: Banking, Commercial banks, External debt, Financial institutions, Fiscal policy, Fiscal stance, Public debt, Revenue administration

Keywords: Caribbean, Commercial banks, CR, Customs reform, Debt management capacity, Executive board discussion, Fiscal stance, Global, Grenada's economy, Growth facility, ISCR, Request, Three-Year, Three-Year arrangement

Publication Details

Pages:

69
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/014
Stock No:

1GRDEA2010001
ISBN:

9781451816563
ISSN:

1934-7685

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