Grenada: Staff Report for the 2002 Article IV Consultation
IMF Staff Country Reports, February 10, 2003
Source details
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- Grenada: Staff Report for the 2002 Article IV Consultation
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Bibliographic details
- Published: February 10, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451816402.002
Macroeconomic performance and near-term projection
- Real GDP of Grenada declined by 3 percent in 2001.
- Drivers of the 2001 decline:
- the global slowdown,
- completion of most of the large infrastructure and tourism projects,
- the effects on tourism of the September 11 attacks in the United States.
- For 2002, economic growth is expected to be slightly positive despite damage to crops and infrastructure caused by a tropical storm in September.
Fiscal and public debt developments
- The fiscal situation deteriorated markedly in 2001.
- The central government deficit rose to 8.5 percent of GDP in 2001.
- Subject areas addressed in the report include: Capital spending, Expenditure, External debt, Government debt management, Infrastructure, Public debt, Public financial management (PFM), Revenue administration.
Key statistics and publication facts
- Pages: 59
- Volume: 2003
- Issue: 025
- Series: Country Report No. 2003/025
- DOI: https://doi.org/10.5089/9781451816402.002
- Stock No: 1GRDEA0012003
- ISBN: 9781451816402
- ISSN: 1934-7685
Analytical emphasis and implicit policy priorities
- Stabilize fiscal position given the central government deficit of 8.5 percent of GDP recorded in 2001.
- Support recovery in tourism and infrastructure-related activity affected by the global slowdown and the September 11 attacks.
- Provide targeted assistance and disaster response to address crop and infrastructure damage from the September tropical storm to sustain the modest positive growth projected for 2002.
Source: Grenada: Staff Report for the 2002 Article IV Consultation, IMF Staff Country Reports 2003, 025