{
  "title": "Grenada: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada",
  "publication": "IMF Staff Country Reports, May 10, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/05/10/grenada-2022-article-iv-consultation-press-release-staff-report-and-statement-by-the-517768",
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  "summary": "Grenada’s economy was hit hard by the pandemic, with a decline in real output of 14 percent in 2020 from both a collapse of tourism-related activities and the suspension of in-person classes at Saint George’s University (SGU). Growth in 2021 is estimated to have partly recovered to 5.",
  "sections": [
    {
      "heading": "Economic impact and recent performance",
      "content": "- 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).\n- Growth in 2021 is estimated at 5.6 percent, driven by construction and agriculture.\n- The external position has worsened."
    },
    {
      "heading": "Policy response and fiscal developments",
      "content": "- Authorities’ policy response included:\n  - containment measures,\n  - increased health and social spending,\n  - an expanded public investment program (including to build resilience to natural disasters).\n- Central government debt rose to 70 percent of GDP in 2021 (from 59 percent in 2019)."
    },
    {
      "heading": "Financial sector and resilience",
      "content": "- The financial sector has so far weathered the crisis well."
    },
    {
      "heading": "Document and publication identifiers",
      "content": "- Pages: 91\n- Volume: 2022\n- Issue: 134\n- Series: Country Report No. 2022/134\n- DOI: https://doi.org/10.5089/9798400209857.002\n- Stock No: 1GRDEA2022002\n- ISBN: 9798400209857\n- ISSN: 1934-7685\n\nSource: Grenada: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada, May 10, 2022.\n\n---\n\n Content in this bundle\n\n- 1grdea2022002\n  - 1grdea2022002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1grdea2022002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 10, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400209857.002",
    "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.",
    "Authorities’ policy response included:",
    "Central government debt rose to 70 percent of GDP in 2021 (from 59 percent in 2019).",
    "The financial sector has so far weathered the crisis well.",
    "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",
    "**1grdea2022002**"
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