Grenada: Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Grenada

IMF Staff Country Reports, May 13, 2020

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Canonical URL: Grenada: Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Grenada

Discusses Grenada’s Request for Disbursement Under the Rapid Credit Facility.
IMF financing support provides resources to the countries’ authorities for essential health-related expenditures and income support to ease the impact of coronavirus disease 2019 on the population.
Subject areas: Balance of payments, Balance of payments need, COVID-19, External debt, Fiscal policy, Fiscal stance, Health, Public debt.
Keywords: Balance of payments need, Caribbean, COVID-19, CR, Fiscal stance, Global, Grenadian authorities, IMF financing support, ISCR, request proceeds, staff appraisal, staff's assessment, transparency obligation.

Countries’ governments have responded to the pandemic by swiftly implementing containment measures, allocating scarce budgetary resources to critical health care spending, and introducing income support to the most affected sectors and households.
IMF Staff Country Reports provide the staff's assessment and appraisal of the request and policy measures.
Protection of the financial system will help cushion the economic impact of the pandemic.

Measures have been taken by the Eastern Caribbean Central Bank to facilitate the provision of credit and safeguard financial stability.
Authorities are committed to further strengthening financial sector oversight to safeguard macro-financial stability.

Going forward, and once the current crisis dissipates, the authorities intend to push ahead with a comprehensive Disaster Resilience Strategy aimed at building resilience to natural disasters.