Search Results

You are looking at 1 - 8 of 8 items for :

  • "Grenada's economy" x
Clear All
International Monetary Fund. Western Hemisphere Dept.
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.
International Monetary Fund
This 2005 Article IV Consultation highlights that real GDP growth in Grenada, on average, has been low over the last five years compared with growth of nearly 6 percent a year in the late-1990s. Inflation has remained low and stable within the framework of the currency board arrangement. The annual inflation rate in April 2005 was 1.8 percent. External current account deficits have been large, although mostly financed by foreign direct investment and capital transfers. Financial sector indicators have also strengthened in recent years.
International Monetary Fund
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.
International Monetary Fund. Western Hemisphere Dept.
This paper discusses Grenada’s Sixth Review under the Extended Credit Facility (ECF) Arrangement and Financing Assurances Review. The government met all continuous and end-December 2016 performance criteria and structural benchmarks. The economy grew by about 3.9 percent in 2016, reflecting continued strong construction activity and steady external demand for Grenada’s tourism services. The pace of restructuring of public debt has accelerated in recent months, and Grenada’s debt-to-GDP ratio declined to 83.4 percent at the end of 2016 from 108 percent in 2013. The IMF staff supports the completion of the Sixth Review under the ECF arrangement and the financing assurances review.
International Monetary Fund. Western Hemisphere Dept.
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.
International Monetary Fund. Western Hemisphere Dept.

IMF Country Report No. 22/134

International Monetary Fund. Western Hemisphere Dept.

Request for Disbursement Under the Rapid Credit Facility; Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Grenada;

International Monetary Fund
This paper describes economic developments in Grenada during the 1990s. The weak growth performance since 1990 reflected largely a continuous contraction in agricultural output, which declined each year from 1989 to 1993. The construction industry experienced a major contraction in 1992 owing to the sharp fall in public investment. In 1993, output declined in the mining and quarrying, construction, and manufacturing sectors as well as in agriculture. In contrast, the hotel and restaurant sector has exhibited strong growth since the late 1980s, with real value added growing by 13.8 percent, on average, each year since 1989.