Grenada: Staff Report for the 2016 Article IV Consultation, Fourth Review Under the Extended Credit Facility, Request for Waiver of Non-Observance of a Performance Criterion, Request for Modification of a Performance Criterion and Financing Assurances Review-Press Release and Staff Report

International Monetary Fund

No 2016/133, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; debt; real GDP; Grenada; public finance; fiscal policy framework; public finance management; labor market skill; debt restructuring agreement; restructuring agreement; Debt restructuring; Caribbean; Global (search for similar items in EconPapers)
Pages: 115
Date: 2016-05-24
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