Grenada and IMF discuss parameters for new fund programme

ST GEORGE’S, Grenada — At the invitation of the government of Grenada, a team from the International Monetary Fund (IMF) visited the island from May 28 to June 4 to hold policy discussions with the government on the parameters for a possible new fund programme.

The discussions focused on the current economic situation in Grenada, the envisaged reform agenda of the new government, its priorities and plans for growth and job creation, and the need to return the public debt to a sustainable footing through a comprehensive restructuring. The government and the IMF also reviewed the likely fiscal outturn for 2013, and preliminary projections for 2014-18.

At the wrap-up session of the policy discussions held on Tuesday, June 4, the following development partners were briefed on the mission and their likely roles to support the government of Grenada as it moves ahead with its plans for economic revival and job creation: the Eastern Caribbean Central Bank, the Caribbean Development Bank, the World Bank and a Delegation from the European Commission based in Barbados.

At the conclusion of the mission, the authorities expressed their appreciation to the IMF team for its constructive approach to the discussions. The government and the IMF will continue to work closely in the weeks ahead.