IMF Staff Country Reports

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

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

May 13, 2020

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Grenada is a tourism-dependent economy that has been severely affected by the global COVID-19 pandemic. Tourism, which accounts for over 80 percent of Grenada’s total exports, has essentially come to a halt in March with ripple effects on other sectors of the economy. The economy is now projected to contract by over 9 percent in 2020. Local outbreaks of COVID-19 (with 14 reported cases) could cause yet deeper and more prolonged contraction in activity. Grenada’s solid fiscal position and strong macroeconomic performance prior to the COVID-19 crisis are key mitigants.

Series:

Country Report No. 2020/161

Subject:

Balance of payments Credit Economic recovery Gross domestic product Public debt Rapid Credit Facility (RCF)