IMF Staff Country Reports

Grenada’s economy continues to navigate elevated global uncertainties well in the aftermath of damages caused by the 2024 Hurricane Beryl. The resilience of the tourism sector, ongoing reconstruction and, increasingly, other development priority investments helped sustain robust GDP growth. Despite significant public expenditure outlays and the extended primary balance rule suspension, the Government’s fiscal position remains comfortable on the back of substantial savings from the now-normalized Citizenship-by-Investment (CBI) revenues and post-disaster contingent financing receipts. Inflation remains moderate while large FDI inflows continue to finance high current account deficits. The financial system remains stable with only a modest post-disaster impact.