Grenada: Staff Report for the 2016 Article IV Consultation, Fourth Review Under the Extended Credit Facility, Request for Waiver of Non-Observance of a Performance Criterion, Request for Modification of a Performance Criterion and Financing Assurances Review-Press Release and Staff Report

May 24, 2016

Preview Citation

Format: Chicago

Grenada: Staff Report for the 2016 Article IV Consultation, Fourth Review Under the Extended Credit Facility, Request for Waiver of Non-Observance of a Performance Criterion, Request for Modification of a Performance Criterion and Financing Assurances Review-Press Release and Staff Report, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This paper features Grenada’s request for waiver of non-observance of a performance criterion, request for modification of a performance criterion, and financing assurances review. The arrangement was approved on June 26, 2014, and the third review was completed on November 25, 2015. Grenada’s comprehensive public debt restructuring is nearing completion. The debt exchange with Grenada’s largest private creditor group was implemented, and an agreement reached with Paris Club creditors. Discussions focused on completing the programmed fiscal consolidation, finalizing reforms to Grenada’s fiscal policy framework, and improving competitiveness and growth prospects. Staff proposes to refine the structural benchmark on public sector modernization to focus specifically on public wage bill management.

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

Keywords: Caribbean, CR, Debt, Debt restructuring, Debt restructuring agreement, Fiscal policy framework, Global, Grenada, ISCR, Labor market skill, Public finance, Public finance management, Real GDP, Restructuring agreement

Publication Details

Pages:

115
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/133
Stock No:

1GRDEA2016001
ISBN:

9781484365700
ISSN:

1934-7685

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