Grenada: Recent Economic Developments

International Monetary Fund

No 1997/117, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reports economic developments in Grenada during the 1990s. Following a strong expansion over 1987–91, real GDP grew at a slower pace in 1992 and declined in 1993, largely reflecting the adoption of adjustment measures and a severe drought. Growth resumed in 1994 owing to stronger tourism and manufacturing activity, the installation of new electricity-generating capacity, and increased output by the water company. In 1995, real GDP continued to expand at an annual rate of about 3 percent, mainly because of a recovery in agricultural output induced by higher export prices.

Keywords: ISCR; CR; price; dollar; market; rate; Grenada; time deposit; ECCB credit; E.C. dollar; tourism receipt; ECCB charter; ECCB member; ECCB operations; common currency; Commercial banks; Exports; Agricultural commodities; Imports; Public sector; Caribbean (search for similar items in EconPapers)
Pages: 78
Date: 1997-12-15
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