Wed | Apr 26, 2017

Grenada on track to make IMF US$2m drawdown

Published:Saturday | December 13, 2014 | 12:21 PM

Grenada is set to drawdown approximately US$2.9 million from the International Monetary Fund (IMF).



This comes after the IMF completed its first review of the country's economic performance under a three-year programme that is being supported through the Extended Credit Facility (ECF).



The IMF approved a US$21 million ECF arrangement for Grenada in June and the latest draw down should bring the total disbursement under the programme to US$5.9 million.



Managing Director of the IMF Min Zhu was full of praise for the Grenadian government, noting that the economic programme is being implemented with great resolution.



Zhu says Grenada's immediate priorities are to restore fiscal and debt sustainability, and bolster competitiveness.



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