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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

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
Table Of Contents
Cover -- Executive Summary -- Contents -- I. Introduction -- II. Recent Developments -- III. Program Performance Under the Current ECF Arrangement -- IV. The Authorities' Program for 2010-2013 -- A. Ensuring Fiscal and Debt Sustainability -- B. Reducing Vulnerabilities in the Financial System -- C. Generating High and Sustainable Growth and Reducing Poverty -- V. Program Modalities -- VI. Staff Appraisal -- 1. Stock-Taking of the Current ECF Arrangement -- Figures -- 1. Growth and Inflation -- 2. Banking System Vulnerabilities -- 3. Fiscal Sector Indicators -- 4. Competitiveness Indicators. -- 5. Doing Business Indicators, 2009 Tables -- 1. Selected Economic and Financial Indicators, 2007-11 -- 2. Central Government Finances, 2007-10 -- 2a. Central Government Finances, 2007-10 -- 3. Summary Accounts of the Banking System, 2007-10 -- 4. Summary Balance of Payments, 2007-15 -- 5. Public Sector Debt, 2009 -- 6. Medium-Term Macro Framework, 2007-15 -- 7. Reviews and Disbursements under the Existing Arrangement, 2006-10 -- 8. Reviews and Disbursements under a Successor Arrangement, 2010-13 -- 9. Indicators of Capacity to Repay the Fund, 2007-16 -- 10. Vulnerability Indicators, 2004-09 -- Annex -- I. Summary of Appendices -- Attachments -- I. Letter of Intent -- II. Memorandum of Economic Policies -- Table 1. Grenada: Quantitative Performance Criteria and Indicative Targets, 2009-10 -- Table 2. Grenada: Proposed Structural Measures for the Successor Arrangement -- III. Technical Memorandum of Understanding -- Table 1: Programmed Disbursements of Grants and Concessional Loans in 2010 -- Table 2. The Primary Balance excluding Grants -- Table 3. Summary of Data To Be Reported -- Box 1. Baseline Macroeconomic Assumptions (2010-30) -- Table 1. Grenada: Public Sector Debt, 2009 -- Table A1a. Grenada: Public Sector Debt Sustainability Framework, Baseline Scenario, 2007-30 1/Table A1b. Grenada: Sensitivity Analysis for Key Indicators of Public Debt 2010-30 -- Table A2b. Grenada: Sensitivity Analysis for Key Indicators of Public and Publicly Guaranteed External Debt, 2010-30 -- Figure 1. Grenada: Indicators of Public Debt Under Alternative Scenarios, 2010-30 1/ -- Figure 2. Grenada: Indicators of Public and Publicly Guaranteed External Debt under Alternatives Scenarios, 2010-30 1 -- Figure 2a. Grenada: Indicators of Public and Publicly Guaranteed External Debt under Alternatives Scenarios, 2010-30 1/Contents -- Appendices -- I. Fund Relations -- II. Relations with the World Bank Group -- III. Relations with the Caribbean Development Bank -- IV. Statistical Issues
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (99 p.)
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Form Of Item

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