Search Results

You are looking at 1 - 10 of 84 items for :

  • "Grenadian authorities" x
Clear All
International Monetary Fund. Fiscal Affairs Dept.

making and forging strategic alliances with key global climate finance providers. However, the challenges facing the country remain daunting and will require large increases in international support, both financial and technical, to assist the Grenadian authorities turn their impressive resilience plans into action. This Climate Change Policy Assessment (CCPA) takes stock of Grenada’s plans to manage its climate response, from the perspective of their macroeconomic and fiscal implications . The CCPA is a joint initiative by the IMF and World Bank to assist small

International Monetary Fund. Western Hemisphere Dept.

, the Grenadian authorities will unwind the temporary measures to cushion the pandemic impact and return the focus of policies to building resilience to natural disasters and safeguarding macro-financial stability. 2. The debtor is making ‘good faith’ efforts to reach agreement with the creditor on a contribution consistent with the parameters of the Fund-supported program . In terms of process, the Grenadian authorities, during the 2014–17 ECF arrangement reached out bilaterally to the Libyan authorities to restructure the debt owed and to regularize arrears

International Monetary Fund

social development initiatives and programmes undertaken by the Grenadian authorities. Prior to the completion of the Report, several area specific reports and documentation sought to address aspects of the poverty problem. 2.1 Country Poverty Assessment 2.1.1 Poverty Profile The Poverty Assessment Report, concluded in October 1999, utilized a representative sample of the Grenadian economy and provided some critical information on the state of the country’s social sector. The principal components of the study were as follows: A national survey of living

International Monetary Fund

Overview 1. My Grenadian authorities are very appreciative of the opportunity for consultations with staff, are in broad agreement with their analysis and findings and found their advice to be timely and beneficial. Real growth has been among the strongest in the sub-region, particularly over the last four years, and the unemployment rate has declined by about 6 percentage points to 11 percent. Given Grenada's small size and population of just 100,000, and vulnerability to external shocks, my authorities are focused on the need for structural reform to

International Monetary Fund. Western Hemisphere Dept.
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.
International Monetary Fund

. Executive Board Assessment Executive Directors noted that Grenada’s real GDP has contracted markedly in 2009, due primarily to sharp falls in tourism receipts, foreign direct investment, and remittances, while unemployment has risen further. Fiscal policy has been constrained by revenue shortfalls and the rising public debt ratio. Directors commended the Grenadian authorities for the satisfactory performance of their economic program under these highly challenging circumstances. They supported focusing macroeconomic policies on mitigating the short-term impact of the

International Monetary Fund. Western Hemisphere Dept.

Our Grenadian authorities extend their appreciation to staff for their consistent engagement and support. They are also grateful for the productive deliberations during the Article IV consultation and broadly endorse the detailed appraisal of economic conditions and recommendations provided in the staff report. As the analysis shows, the pandemic had a significant impact on the economy and people of Grenada. Nevertheless, our authorities’ sound fiscal and macroeconomic policies made them better equipped to weather the pandemic. Support from the Fund, through

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.