Grenada: Fifth Review Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria and Request for a Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurance Review

May 20, 2010

Preview Citation

Format: Chicago

Grenada: Fifth Review Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria and Request for a Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurance Review, (USA: International Monetary Fund, 2010) accessed September 18, 2024

Summary

This paper discusses key findings of the Fifth Review Under the Extended Credit Facility (ECF) for Grenada. Four of the six quantitative performance criteria for end-November 2009 were met. The primary balance, excluding the grants target, was missed by 3.3 percent of GDP owing to higher-than-expected expenditures related to donor-financed capital projects and overruns on current spending associated with a sharp rise in unpaid invoices less than 60 days old. The authorities are requesting waivers for the missed performance criteria based on their implementation of corrective measures.

Subject: Credit, Economic sectors, External debt, Money, Public and publicly-guaranteed external debt, Public debt, Public financial management (PFM), Public sector

Keywords: Caribbean, CR, Credit, Debt, ECF arrangement, Executive board discussion, Global, Grenada's request, ISCR, Nonobservance, Public sector, Request, Request for a Three-Year arrangement, Request for waivers of nonobservance of performance criteria

Publication Details

Pages:

98
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/139
Stock No:

1GRDEA2010002
ISBN:

9781455207503
ISSN:

1934-7685

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