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

International Monetary Fund

No 2010/139, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; request for waivers of nonobservance of performance criteria; request; request for a Three-Year arrangement; debt; nonobservance; executive board discussion; ECF arrangement; Grenada's request; Credit; Public sector; Global; Caribbean (search for similar items in EconPapers)
Pages: 98
Date: 2010-05-20
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