## Grenada: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada

_IMF Staff Country Reports, May 10, 2022_

## Source details

**Canonical URL:** [Grenada: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada](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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## Bibliographic details
- Published: May 10, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400209857.002

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### 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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_Source: 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_