Grenada - Joint World Bank-IMF Debt Sustainability Analysis

With some 19 million US Dollars (1.6 percent of GDP) in unresolved arrears to official bilateral creditors, Grenada remains in external public debt distress. However, debt appears sustainable reflecting favorable projected debt dynamics from substa...

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Main Authors:	World Bank, International Monetary Fund
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2019
Subjects:	DEBT DISTRESS CONTINGENT LIABILITY PUBLIC SECTOR DEBT DEBT SERVICE BURDEN PUBLIC AND PUBLICLY GUARANTEED DEBT VULNERABILITY NATURAL DISASTER EXTERNAL DEBT SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION
Online Access:	http://documents.worldbank.org/curated/en/667361570637605083/Grenada-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-July-2019 http://hdl.handle.net/10986/32567

id	okr-10986-32567
recordtype	oai_dc
spelling	okr-10986-325672021-05-25T09:28:28Z Grenada - Joint World Bank-IMF Debt Sustainability Analysis World Bank International Monetary Fund DEBT DISTRESS CONTINGENT LIABILITY PUBLIC SECTOR DEBT DEBT SERVICE BURDEN PUBLIC AND PUBLICLY GUARANTEED DEBT VULNERABILITY NATURAL DISASTER EXTERNAL DEBT SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION With some 19 million US Dollars (1.6 percent of GDP) in unresolved arrears to official bilateral creditors, Grenada remains in external public debt distress. However, debt appears sustainable reflecting favorable projected debt dynamics from substantial fiscal surpluses that are supported by the Fiscal Responsibility Law (FRL). Total public debt has declined from 108 percent of GDP in 2013 to 63.5 percent of GDP in 2018, with external public debt amounting to 44.5 percent of GDP. This reduction was made possible through fiscal consolidation that has been anchored by the FRL, robust economic growth, and a restructuring of Grenada's public debt. Going forward, continued adherence to the FRL and regularization of arrears will be needed to upgrade the risk rating. Debt should be further reduced and kept at levels needed to withstand the existing vulnerabilities to external shocks and natural disasters. 2019-10-17T19:13:04Z 2019-10-17T19:13:04Z 2019-07 Report http://documents.worldbank.org/curated/en/667361570637605083/Grenada-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-July-2019 http://hdl.handle.net/10986/32567 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Debt and Creditworthiness Study Latin America & Caribbean Grenada
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	DEBT DISTRESS CONTINGENT LIABILITY PUBLIC SECTOR DEBT DEBT SERVICE BURDEN PUBLIC AND PUBLICLY GUARANTEED DEBT VULNERABILITY NATURAL DISASTER EXTERNAL DEBT SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION
spellingShingle	DEBT DISTRESS CONTINGENT LIABILITY PUBLIC SECTOR DEBT DEBT SERVICE BURDEN PUBLIC AND PUBLICLY GUARANTEED DEBT VULNERABILITY NATURAL DISASTER EXTERNAL DEBT SUSTAINABILITY ANALYSIS RISK ASSESSMENT MACROECONOMIC PROJECTION World Bank International Monetary Fund Grenada - Joint World Bank-IMF Debt Sustainability Analysis
geographic_facet	Latin America & Caribbean Grenada
description	With some 19 million US Dollars (1.6 percent of GDP) in unresolved arrears to official bilateral creditors, Grenada remains in external public debt distress. However, debt appears sustainable reflecting favorable projected debt dynamics from substantial fiscal surpluses that are supported by the Fiscal Responsibility Law (FRL). Total public debt has declined from 108 percent of GDP in 2013 to 63.5 percent of GDP in 2018, with external public debt amounting to 44.5 percent of GDP. This reduction was made possible through fiscal consolidation that has been anchored by the FRL, robust economic growth, and a restructuring of Grenada's public debt. Going forward, continued adherence to the FRL and regularization of arrears will be needed to upgrade the risk rating. Debt should be further reduced and kept at levels needed to withstand the existing vulnerabilities to external shocks and natural disasters.
format	Report
author	World Bank International Monetary Fund
author_facet	World Bank International Monetary Fund
author_sort	World Bank
title	Grenada - Joint World Bank-IMF Debt Sustainability Analysis
title_short	Grenada - Joint World Bank-IMF Debt Sustainability Analysis
title_full	Grenada - Joint World Bank-IMF Debt Sustainability Analysis
title_fullStr	Grenada - Joint World Bank-IMF Debt Sustainability Analysis
title_full_unstemmed	Grenada - Joint World Bank-IMF Debt Sustainability Analysis
title_sort	grenada - joint world bank-imf debt sustainability analysis
publisher	World Bank, Washington, DC
publishDate	2019
url	http://documents.worldbank.org/curated/en/667361570637605083/Grenada-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-July-2019 http://hdl.handle.net/10986/32567
_version_	1764476810843652096

Grenada - Joint World Bank-IMF Debt Sustainability Analysis

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