LEADER 07233oam 22014774 450 001 9910786765803321 005 20230803204122.0 010 $a1-4983-1853-3 010 $a1-4983-1945-9 010 $a1-4983-7666-5 035 $a(CKB)3710000000215642 035 $a(EBL)1760120 035 $a(SSID)ssj0001399029 035 $a(PQKBManifestationID)11805756 035 $a(PQKBTitleCode)TC0001399029 035 $a(PQKBWorkID)11447119 035 $a(PQKB)11518710 035 $a(MiAaPQ)EBC1760120 035 $a(Au-PeEL)EBL1760120 035 $a(CaPaEBR)ebr10907176 035 $a(CaONFJC)MIL636371 035 $a(OCoLC)886114274 035 $a(IMF)1GRDEE2014002 035 $a(IMF)1GRDEA2014002 035 $a(EXLCZ)993710000000215642 100 $a20020129d2014 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aGrenada : $eStaff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2014. 215 $a1 online resource (125 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4983-6370-9 327 $aCover; 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 Conditionality 327 $aB. 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, 2011-13 327 $a5. 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 Intent 327 $aAttachment 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 ISSUES 330 3 $aThis 2014 Article IV Consultation highlights that Grenada?s economy continues to face significant headwinds after a decade of natural disasters and economic shocks coalesced into a deep economic crisis by 2011?2012. Economic activity declined by more than 8 percent of GDP from peak to trough (2008?2012) as tourism and construction collapsed. After almost four years of decline, real GDP grew by 1.5 percent in 2013. To address the fiscal crisis, the authorities have initiated fiscal adjustment as part of their 2014 budget, and have subsequently approved a large package of revenue measures needed for the targeted consolidation. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2014/196 606 $aFiscal policy$zGrenada 606 $aFinancial institutions$zGrenada 606 $aEconomic indicators$zGrenada 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aFinancial Risk Management$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aTaxation$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aFiscal Policy$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aPublic finance & taxation$2imf 606 $aFinance$2imf 606 $aInternational economics$2imf 606 $aBanking$2imf 606 $aSales tax, tariffs & customs duties$2imf 606 $aDebt restructuring$2imf 606 $aPublic debt$2imf 606 $aFiscal consolidation$2imf 606 $aPublic financial management (PFM)$2imf 606 $aArrears$2imf 606 $aAsset and liability management$2imf 606 $aFiscal policy$2imf 606 $aExternal debt$2imf 606 $aDebts, External$2imf 606 $aDebts, Public$2imf 606 $aFinance, Public$2imf 606 $aBanks and banking$2imf 606 $aTax administration and procedure$2imf 607 $aGrenada$2imf 615 0$aFiscal policy 615 0$aFinancial institutions 615 0$aEconomic indicators 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aFinancial Risk Management 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aTaxation 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aFiscal Policy 615 7$aNational Government Expenditures and Related Policies: General 615 7$aInternational Lending and Debt Problems 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aPublic finance & taxation 615 7$aFinance 615 7$aInternational economics 615 7$aBanking 615 7$aSales tax, tariffs & customs duties 615 7$aDebt restructuring 615 7$aPublic debt 615 7$aFiscal consolidation 615 7$aPublic financial management (PFM) 615 7$aArrears 615 7$aAsset and liability management 615 7$aFiscal policy 615 7$aExternal debt 615 7$aDebts, External 615 7$aDebts, Public 615 7$aFinance, Public 615 7$aBanks and banking 615 7$aTax administration and procedure 676 $a339.52 801 0$bDcWaIMF 906 $aBOOK 912 $a9910786765803321 996 $aGrenada$92717739 997 $aUNINA