## Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement

_IMF Staff Country Reports, July 14, 2014_

## Source details

**Canonical URL:** [Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement](https://www.imf.org/en/publications/cr/issues/2016/12/31/grenada-staff-report-for-the-2014-article-iv-consultation-and-request-for-an-extended-credit-41739)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/grenada-staff-report-for-the-2014-article-iv-consultation-and-request-for-an-extended-credit-41739/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/grenada-staff-report-for-the-2014-article-iv-consultation-and-request-for-an-extended-credit-41739/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/grenada-staff-report-for-the-2014-article-iv-consultation-and-request-for-an-extended-credit-41739/bundle-manifest.json)

## Bibliographic details
- Published: July 14, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498363709.002

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### Economic context and recent performance
- Grenada’s economy faced significant headwinds after a decade of natural disasters and economic shocks that coalesced into a deep economic crisis by 2011–2012.
- Economic activity declined by more than 8 percent of GDP from peak to trough (2008–2012) as tourism and construction collapsed.
- After almost four years of decline, real GDP grew by 1.5 percent in 2013.

### Fiscal situation and policy response
- To address the fiscal crisis, the authorities initiated fiscal adjustment as part of their 2014 budget.
- The authorities subsequently approved a large package of revenue measures needed for the targeted consolidation.

### Subjects and keywords covered in the report
- Arrears
- Asset and liability management
- Debt restructuring
- External debt
- Fiscal consolidation
- Fiscal policy
- Public debt
- Public financial management (PFM)
- Keywords provided: Arrears, Caribbean, CR, debt, Debt restructuring, development partner, financing, financing pressure, Fiscal consolidation, Global, Grenada's economy, growth prospect, ISCR, OECS government

### Document metadata (as presented on the page)
- Report title: Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement
- Publication date on page: July 14, 2014
- Series: IMF Staff Country Reports 2014, 196

*Source: Grenada: Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement (July 14, 2014).*

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## Content in this bundle

- **_cr14196 — IMF staff report**
  - [_cr14196 — IMF staff report (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2014/_cr14196.pdf.md){rel="alternate" type="text/markdown"}
  - [_cr14196 — IMF staff report (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2014/_cr14196.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/grenada-staff-report-for-the-2014-article-iv-consultation-and-request-for-an-extended-credit-41739_