IMF Staff Country Reports

Grenada: 2009 Article IV Consultation, Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Modification of Performance Criterion, and Financing Assurances Review-Staff Report; Public Information Notice; and Press Release.

Publication Date:

January 12, 2010

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2009 Article IV Consultation highlights that economic activity in Grenada is slowing significantly, reflecting the drag of the global crisis on tourism receipts, foreign direct investment, and remittances. Commercial banks have remained resilient, but the intervention of the Trinidad and Tobago-based CL Financial Group has heightened financial uncertainty. All quantitative targets for end-June 2009 were met. Executive Directors have commended the Grenadian authorities for the satisfactory performance of their economic program under these highly challenging circumstances.

Series:

Country Report No. 2010/014

Subject:

Banking Commercial banks External debt Financial institutions Fiscal policy Fiscal stance Public debt Revenue administration