European Parliament Library

Grenada :, Staff Report for the 2014 Article IV Consultation and Request for an Extended Credit Facility Arrangement

This 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
Table Of Contents
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 Conditionality
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (125 p.)
Specific Material Designation
Form Of Item

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