Grenada: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada
IMF Staff Country Reports, May 10, 2022
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- Grenada: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada
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Bibliographic details
- Published: May 10, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400209857.002
Economic impact and recent performance
- Real output declined by 14 percent in 2020, driven by a collapse of tourism-related activities and the suspension of in-person classes at Saint George’s University (SGU).
- Growth in 2021 is estimated at 5.6 percent, driven by construction and agriculture.
- The external position has worsened.
Policy response and fiscal developments
- Authorities’ policy response included:
- containment measures,
- increased health and social spending,
- an expanded public investment program (including to build resilience to natural disasters).
- Central government debt rose to 70 percent of GDP in 2021 (from 59 percent in 2019).
Financial sector and resilience
- The financial sector has so far weathered the crisis well.
Document and publication identifiers
- Pages: 91
- Volume: 2022
- Issue: 134
- Series: Country Report No. 2022/134
- DOI: https://doi.org/10.5089/9798400209857.002
- Stock No: 1GRDEA2022002
- ISBN: 9798400209857
- ISSN: 1934-7685
Source: Grenada: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada, May 10, 2022.
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- 1grdea2022002