Grenada and IMF Discuss a New Fund Programme

At the invitation of the Government of Grenada, a team from the International Monetary Fund  (IMF) visited Grenada from 28 May – 04 June 04, 2013 to hold policy discussions with Government of Grenada on the parameters for a possible new Fund programme. The IMF mission was led by Ms. Aliona Cebotari.

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 04 June, 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.

Ministry of Finance & Energy

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