Grenada: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada PDF Download
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Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 91
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Book Description
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 5.6 percent, driven by construction and agriculture. The authorities’ policy response helped mitigate the pandemic’s impact through containment measures, increased health and social spending, and 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) and the external position has worsened. The financial sector has so far weathered the crisis well.
Author:
Publisher:
ISBN:
Category : Grenada
Languages : en
Pages : 70
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Book Description
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 91
Get Book Here
Book Description
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 5.6 percent, driven by construction and agriculture. The authorities’ policy response helped mitigate the pandemic’s impact through containment measures, increased health and social spending, and 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) and the external position has worsened. The financial sector has so far weathered the crisis well.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1498323006
Category : Business & Economics
Languages : en
Pages : 92
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Book Description
Owing to improved policy frameworks and favorable external conditions, Grenada’s economy has been growing rapidly. Policies have remained prudent, helping reduce public debt and financial system vulnerabilities. The domestic policy debate is increasingly focused on using potential fiscal space for spending on public pensions and investment on building resilience to natural disasters.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 75
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Book Description
Grenada is simultaneously navigating the recovery from the pandemic and a rise in energy and food prices. Growth is estimated to have reached 6.4 percent in 2022, driven by a tourism rebound and private and public construction projects. Inflation rose from 1.9 percent at end-2021 to 2.9 percent by end-2022. The authorities’ policy response—facilitated by the build-up of fiscal buffers over the past decade—dampened the pass through from rising global food and fuel prices. Public debt is now back on a downward trend. The financial sector is well-capitalized and liquid although non-performing loans of credit unions have risen.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1484370252
Category : Business & Economics
Languages : en
Pages : 83
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Book Description
Grenada made important strides under the 2014-17 ECF-supported program, achieving an impressive debt reduction by 37 percent of GDP since 2013, upgrading the framework for fiscal policy, strengthening the financial system, improving governance, and creating a better business environment. Nonetheless, public debt is still relatively high, job creation has been insufficient, and the institutional capacity for policy implementation needs strengthening.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1475572875
Category : Business & Economics
Languages : en
Pages : 115
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Book Description
This paper features Grenada’s request for waiver of non-observance of a performance criterion, request for modification of a performance criterion, and financing assurances review. The arrangement was approved on June 26, 2014, and the third review was completed on November 25, 2015. Grenada’s comprehensive public debt restructuring is nearing completion. The debt exchange with Grenada’s largest private creditor group was implemented, and an agreement reached with Paris Club creditors. Discussions focused on completing the programmed fiscal consolidation, finalizing reforms to Grenada’s fiscal policy framework, and improving competitiveness and growth prospects. Staff proposes to refine the structural benchmark on public sector modernization to focus specifically on public wage bill management.
Author: International Monetary Fund Staff
Publisher:
ISBN: 9780119864830
Category :
Languages : en
Pages : 41
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Book Description
As required under Article IV of its Articles of Agreement, the International Monetary Fund (IMF) conducts periodic consultations with its member countries. Included with the IMF Staff Report for the 2000 Article IV consultation with Grenada, this package includes the text of Public Information Notice No. 00/50.
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1498363709
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
This 2014 Article IV Consultation highlights that Grenada’s economy continues to face significant headwinds after a decade of natural disasters and economic shocks coalesced into a deep economic crisis by 2011–2012. Economic activity declined by more than 8 percent of GDP from peak to trough (2008–2012) as tourism and construction collapsed. After almost four years of decline, real GDP grew by 1.5 percent in 2013. To address the fiscal crisis, the authorities have initiated fiscal adjustment as part of their 2014 budget, and have subsequently approved a large package of revenue measures needed for the targeted consolidation.
Author: Ratna Sahay
Publisher:
ISBN:
Category :
Languages : en
Pages : 63
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451816502
Category : Business & Economics
Languages : en
Pages : 66
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Book Description
The 2007 Article IV Consultation with Grenada discusses strong economic rebound in the aftermath of a hurricane devastation and broadly favorable economic prospects, with major tourism investments under way and the gradual recovery of the agricultural sector. The government’s highly successful debt restructuring is now largely complete and has resulted in substantial debt service savings. Executive Directors welcomed the efforts being made by the authorities to enhance the business climate and improve competitiveness, including through the recently developed national export strategy and other measures to reduce business costs.
