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
November 4, 2008
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The staff report for the First Review Under the Poverty Reduction and Growth Facility (PRGF) Arrangement highlights Grenada’s economic performance in many respects. The time needed to address the unregulated bank, as well as fiscal slippages and the slow pace of structural reform, delayed completion of the first PRGF review. The program entails some risks, particularly with respect to bank restructuring costs, expenditure control, implementation capacity, and natural disasters. The government is considering a concessional loan from the Export-Import Bank of China to finance the construction of a port and marina.
Subject: Banking, Debt sustainability, Debt sustainability analysis, External debt, Fiscal policy, Fiscal stance, Public debt
Keywords: Caribbean, common currency, CR, debt, debt service, Debt sustainability, Debt sustainability analysis, Executive Board discussion, Fiscal stance, GDP, ISCR, membership status, OECS private sector financing study, PRGF arrangement, PRGF loan
Pages:
78
Volume:
2008
DOI:
Issue:
357
Series:
Country Report No. 2008/357
Stock No:
1GRDEA2008004
ISBN:
9781451816532
ISSN:
1934-7685
