07253oam 22014894 450 991080706380332120240405012235.01-4983-1853-31-4983-1945-91-4983-7666-5(CKB)3710000000215642(EBL)1760120(SSID)ssj0001399029(PQKBManifestationID)11805756(PQKBTitleCode)TC0001399029(PQKBWorkID)11447119(PQKB)11518710(MiAaPQ)EBC1760120(Au-PeEL)EBL1760120(CaPaEBR)ebr10907176(CaONFJC)MIL636371(OCoLC)886114274(IMF)1GRDEE2014002(IMF)1GRDEA2014002(EXLCZ)99371000000021564220020129d2014 uf 0engur|n|---|||||txtccrGrenada : Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement1st ed.Washington, D.C. :International Monetary Fund,2014.1 online resource (125 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4983-6370-9 Cover; CONTENTS; BACKGROUND; RECENT DEVELOPMENTS; POLICY DISCUSSIONS AND THE PROPOSED PROGRAM; A. Outlook, Risks and the Macroeconomic Framework; B. Improving Competitiveness and Setting the Stage for Higher Sustainable Growth; C. Restoring Fiscal Sustainability; BOXES; 1. Fiscal Adjustment Effort and the Fiscal Impulse; 2. Social Safety Nets; 3. The Published Restructuring Scenarios; 4. The Cost of the Civil Service; D. Strengthening Financial Stability; 5. Structure of the Financial Sector; PROGRAM MODALITIES; A. Access and ConditionalityB. Capacity to Repay the Fund and Risks to the ProgramSTAFF APPRAISAL; FIGURES; 1. Grenada in Context; 2. Recent Economic Developments; 3. External Developments; 4. Monetary Developments; 5. Fiscal Developments; TABLES; 1. Selected Economic and Financial Indicators, 2008-19; 2a. Operations of the Central Government (In EC million); 2b. Operations of the Central Government (In percent of GDP); 3a. Medium-Term Central Government Financing Projections (In millions of U.S. Dollars); 3b. Medium-Term Central Government Financing Projections (In percent of GDP); 4. Public Sector Debt, 2011-135. External and Domestic Arrears, 2012-136. Balance of Payments Summary, 2008-19; 7. Summary Accounts of the Banking System, 2008-15; 8. Financial Sector Indicators, 2008-13; 9. Indicators of Capacity to Repay the Fund, 2012-20; 10. Proposed Schedule of Disbursement Under the Extended Credit Facility; ANNEXES; I. Risk Assessment Matrix; II. Debt Sustainability Analysis; III. Competitiveness Issues and Exchange Rate Assessment; IV. Impact of the Debt Restructuring on the National Insurance Scheme; V. Statutory Bodies; VI. Petrocaribe Arrangement; APPENDICES; I. Letter of IntentAttachment I. Memorandum of Economic and Financial Policies for 2014-17Attachment II. Technical Memorandum of Understanding; II. Supplementary Letter of Intent; CONTENTS; FUND RELATIONS; RELATIONS WITH THE WORLD BANK GROUP; RELATIONS WITH THE CARIBBEAN DEVELOPMENT BANK (CDB); STATISTICAL ISSUESThis 2014 Article IV Consultation highlights that Grenada’s economy continues to face significant headwinds after a decade of natural disasters and economic shocks coalesced into a deep economic crisis by 2011–2012. Economic activity declined by more than 8 percent of GDP from peak to trough (2008–2012) as tourism and construction collapsed. After almost four years of decline, real GDP grew by 1.5 percent in 2013. To address the fiscal crisis, the authorities have initiated fiscal adjustment as part of their 2014 budget, and have subsequently approved a large package of revenue measures needed for the targeted consolidation.IMF Staff Country Reports; Country Report ;No. 2014/196Fiscal policyGrenadaFinancial institutionsGrenadaEconomic indicatorsGrenadaBanks and BankingimfExports and ImportsimfFinancial Risk ManagementimfMacroeconomicsimfPublic FinanceimfTaxationimfDebtimfDebt ManagementimfSovereign DebtimfFiscal PolicyimfNational Government Expenditures and Related Policies: GeneralimfInternational Lending and Debt ProblemsimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfTaxation, Subsidies, and Revenue: GeneralimfPublic finance & taxationimfFinanceimfInternational economicsimfBankingimfSales tax, tariffs & customs dutiesimfDebt restructuringimfPublic debtimfFiscal consolidationimfPublic financial management (PFM)imfArrearsimfAsset and liability managementimfFiscal policyimfExternal debtimfDebts, ExternalimfDebts, PublicimfFinance, PublicimfBanks and bankingimfTax administration and procedureimfGrenadaimfFiscal policyFinancial institutionsEconomic indicatorsBanks and BankingExports and ImportsFinancial Risk ManagementMacroeconomicsPublic FinanceTaxationDebtDebt ManagementSovereign DebtFiscal PolicyNational Government Expenditures and Related Policies: GeneralInternational Lending and Debt ProblemsBanksDepository InstitutionsMicro Finance InstitutionsMortgagesTaxation, Subsidies, and Revenue: GeneralPublic finance & taxationFinanceInternational economicsBankingSales tax, tariffs & customs dutiesDebt restructuringPublic debtFiscal consolidationPublic financial management (PFM)ArrearsAsset and liability managementFiscal policyExternal debtDebts, ExternalDebts, PublicFinance, PublicBanks and bankingTax administration and procedure339.52DcWaIMFBOOK9910807063803321Grenada2717739UNINA