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Grenada: Fifth Review Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria and Request for a Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurance Review

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  • International Monetary Fund

Abstract

This paper discusses key findings of the Fifth Review Under the Extended Credit Facility (ECF) for Grenada. Four of the six quantitative performance criteria for end-November 2009 were met. The primary balance, excluding the grants target, was missed by 3.3 percent of GDP owing to higher-than-expected expenditures related to donor-financed capital projects and overruns on current spending associated with a sharp rise in unpaid invoices less than 60 days old. The authorities are requesting waivers for the missed performance criteria based on their implementation of corrective measures.

Suggested Citation

  • International Monetary Fund, 2010. "Grenada: Fifth Review Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria and Request for a Three-Year Arrangement Under the Extended Credit Facility, and ," IMF Staff Country Reports 2010/139, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2010/139
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