Grenada: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Requests for Waivers and Modification of Quantitative Performance Criteria, and Financing Assurances Review: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Grenada
IMF Staff Country Reports, March 13, 2009
Source details
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- Grenada: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Requests for Waivers and Modification of Quantitative Performance Criteria, and Financing Assurances Review: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Grenada
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Bibliographic details
- Published: March 13, 2009
- Series: IMF Staff Country Reports
Overview and context
- Paper presents key findings of the Second Review for Grenada under the Poverty Reduction and Growth Facility (PRGF).
- Publication date: March 13, 2009.
- Pages: 77; Volume: 2009; Issue: 095; Series: Country Report No. 2009/095; Stock No: 1GRDEA2009001; ISBN: 9781451816549; ISSN: 1934-7685.
Macroeconomic outlook and shocks
- Grenada’s economic outlook has deteriorated somewhat, mainly reflecting the global financial turmoil and slowing global growth.
- Identified transmission channels and expected impacts:
- Slower tourism demand.
- Lower foreign direct investment (FDI).
- Reduced remittances.
- Potential negative effects on grants from some donors.
Policy framework and authorities' response
- Authorities are moving forward with a policy framework that:
- Provides for needed fiscal consolidation.
- Addresses financial sector vulnerabilities.
- Reinvigorates the structural agenda.
Subjects and keywords (as listed in source)
- Subjects: Arrears, Commercial banks, Credit, Economic sectors, External debt, Financial institutions, Fiscal policy, Fiscal stance, Money, Public sector.
- Keywords: $ million, Arrears, Caribbean, Commercial banks, CR, Credit, Executive Board discussion, Fiscal stance, Global, government, Grenadian authorities, ISCR, PRGF arrangement, Public sector, tax enforcement.
Source: IMF Staff Country Report — Grenada: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (March 13, 2009), Country Report No. 2009/095.