Grenada: Recent Economic Developments

International Monetary Fund

No 1995/056, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; capital expenditure; private sector; U.S. dollar; net credit; exchange rate; terms of trade; net loan; financial support; balance of payments; net investment income; factor payment; real value; net nonbank financing; net borrowing; net change; unclassified asset; net factor payment; Public sector; Agricultural commodities; Commercial banks; Imports; Caribbean (search for similar items in EconPapers)
Pages: 99
Date: 1995-07-20
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