Grenada: Third Review Under the Extended Credit Facility, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; and Staff Report
IMF Staff Country Reports, December 3, 2015
Source details
- Canonical URL
- Grenada: Third Review Under the Extended Credit Facility, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; and Staff Report
Other formats
Bibliographic details
- Published: December 3, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513554136.002
Executive summary
- Overall program implementation remains strong.
- All quantitative performance criteria (PCs) for the third review were met.
- All structural benchmarks for the third review were implemented.
- Authorities advanced reforms to:
- ensure the transparent and sustainable management of the Citizenship-By-Investment revenues;
- strengthen the fiscal policy framework;
- improve public finance management.
- IMF staff supports:
- completion of the third review under the ECF-arrangement;
- the modification of quantitative PCs;
- completion of the financing assurances review.
Findings and analysis
- Program implementation
- All quantitative PCs for the third review were met.
- All structural benchmarks for the third review were implemented.
- Reforms advanced by authorities
- Transparent and sustainable management of Citizenship-By-Investment revenues.
- Strengthening of the fiscal policy framework.
- Improvements in public finance management.
- IMF staff position
- Supports completion of the third review under the ECF-arrangement.
- Supports the modification of quantitative PCs.
- Supports completion of the financing assurances review.
Subjects and keywords
- Subject: Arrears, Asset and liability management, Debt restructuring, External debt, Fiscal policy, Fiscal stance, Public debt
- Keywords: Arrears, Caribbean, competitiveness reform, CR, debt, debt exchange, Debt restructuring, ECF arrangement, Fiscal stance, growth prospect, ISCR, reform, restructuring agreement, restructuring term
Source: Grenada: Third Review Under the Extended Credit Facility, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; and Staff Report (December 3, 2015).