Grenada: 2014 Article IV Consultation and Request for An Extended Credit Facility Arrangement-Staff Report; and Press Release

Publication Date: July 14, 2014
Electronic Access: Free Full text (PDF file size is 2,804KB).
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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.
Series: Country Report No. 14/196
Subject(s): Article IV consultation reports | Fiscal policy | Debt restructuring | Fiscal reforms | Nonbank financial sector | Bank supervision | Extended Credit Facility | Staff Reports | Press releases | Extended arrangement requests | Grenada

Publication Date: July 14, 2014
ISBN/ISSN: 9781498363709/1934-7685 Format: Paper
Stock No: 1GRDEA2014002 Pages: 124
US$18.00 (Academic Rate:
US$18.00 )
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