Grenada: First Review Under the Poverty Reduction and Growth Facility Arrangement, Request for Waiver of Performance Criterion, Financing Assurance Review, Request for Rephasing and Extension of the Arrangement, and Request for Augmentation-Staff Report; Staff Supplement; and Press Release on the Executive Board Discussion
IMF Staff Country Reports, November 4, 2008
Source details
- Canonical URL
- Grenada: First Review Under the Poverty Reduction and Growth Facility Arrangement, Request for Waiver of Performance Criterion, Financing Assurance Review, Request for Rephasing and Extension of the Arrangement, and Request for Augmentation-Staff Report; Staff Supplement; and Press Release on the Executive Board Discussion
Other formats
Bibliographic details
- Published: November 4, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451816532.002
Summary of report
- The staff report covers the First Review Under the Poverty Reduction and Growth Facility (PRGF) Arrangement for Grenada.
- Completion of the first PRGF review was delayed by:
- The time needed to address the unregulated bank.
- Fiscal slippages.
- The slow pace of structural reform.
- The government is considering a concessional loan from the Export-Import Bank of China to finance construction of a port and marina.
- The program entails risks related to bank restructuring costs, expenditure control, implementation capacity, and natural disasters.
Major findings and focus areas
- Economic performance is highlighted "in many respects" (phrase preserved from source).
- Identified program risks:
- Bank restructuring costs.
- Expenditure control.
- Implementation capacity.
- Natural disasters.