Grenada: Fifth Review Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria and Request for a Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurance Review
May 20, 2010
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This paper discusses key findings of the Fifth Review Under the Extended Credit Facility (ECF) for Grenada. Four of the six quantitative performance criteria for end-November 2009 were met. The primary balance, excluding the grants target, was missed by 3.3 percent of GDP owing to higher-than-expected expenditures related to donor-financed capital projects and overruns on current spending associated with a sharp rise in unpaid invoices less than 60 days old. The authorities are requesting waivers for the missed performance criteria based on their implementation of corrective measures.
Subject: Credit, Economic sectors, External debt, Money, Public and publicly-guaranteed external debt, Public debt, Public financial management (PFM), Public sector
Keywords: Caribbean, CR, Credit, debt, ECF arrangement, executive board discussion, Global, Grenada's request, ISCR, nonobservance, Public sector, request, request for a Three-Year arrangement, request for waivers of nonobservance of performance criteria
Pages:
98
Volume:
2010
DOI:
Issue:
139
Series:
Country Report No. 2010/139
Stock No:
1GRDEA2010002
ISBN:
9781455207503
ISSN:
1934-7685
