Grenada: Ex Post Assessment of Longer-Term Program Engagement

International Monetary Fund

No 2014/019, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Ex Post Assessment of Longer-Term Program Engagement on Grenada. Grenada’s engagement with the IMF played an important role in supporting the small island economy after it was buffeted by major adverse shocks. IMF support catalyzed substantial donor aid in the wake of unprecedented damage from two hurricanes and provided additional resources when the global crisis hit. Key reforms were also advanced, including the implementation of a value-added tax and strengthening of the nonbank regulatory framework. Executive Directors have agreed that a new program should support urgently needed fiscal consolidation, promote faster and more inclusive growth, and focus on a few macro-critical reforms.

Keywords: ISCR; CR; financial crisis; job creation; private sector; program conditionality; debt restructuring; fund-supported program; investment climate; program objective; debt service; program design; program projection; program strategy; Debt sustainability; Fiscal stance; Debt restructuring; Caribbean; Global (search for similar items in EconPapers)
Pages: 46
Date: 2014-01-28
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