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IMF says Grenadian economy slowly recovering from recession

Published:Wednesday | December 31, 2014 | 10:49 AM

The International Monetary Fund (IMF) says Grenada’s economy is slowly recovering from a protracted recession.



The IMF further points out that while growth will remain positive, it will be below potential for the next two years as private and public balance sheets are repaired.



The IMF also notes that while the economy is slowly recovering domestic, demand remains weak.



It says discussions with creditors on a comprehensive restructuring of public debt have intensified and that policy implementation is off to a good start.



In June, Grenada and the IMF signed a three-year US$21.7 million Extended Credit Facility Arrangement.



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