Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement
IMF Staff Country Reports, July 14, 2014
Source details
- Canonical URL
- Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement
Other formats
Bibliographic details
- Published: July 14, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498363709.002
Economic context and recent performance
- Grenada’s economy faced significant headwinds after a decade of natural disasters and economic shocks that 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.
Fiscal situation and policy response
- To address the fiscal crisis, the authorities initiated fiscal adjustment as part of their 2014 budget.
- The authorities subsequently approved a large package of revenue measures needed for the targeted consolidation.
Subjects and keywords covered in the report
- Arrears
- Asset and liability management
- Debt restructuring
- External debt
- Fiscal consolidation
- Fiscal policy
- Public debt
- Public financial management (PFM)
- Keywords provided: Arrears, Caribbean, CR, debt, Debt restructuring, development partner, financing, financing pressure, Fiscal consolidation, Global, Grenada's economy, growth prospect, ISCR, OECS government
Document metadata (as presented on the page)
- Report title: Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement
- Publication date on page: July 14, 2014
- Series: IMF Staff Country Reports 2014, 196
Source: Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement (July 14, 2014).
Content in this bundle
- _cr14196 — IMF staff report