Grenada expecting $21.9 million first payment from IMF
Grenada is expecting to receive about US$21.9 million by month-end as the first disbursement of funds from the International Monetary Fund (IMF) under the structural adjustment programme.
In all, the government is expecting to receive about US$100 million over the next year from various donor agencies for a number of developmental projects and programmes.
The board of the IMF is now set to meet on June 26, 2014, in Washington, where it is expected to approve Grenada’s three-year economic revival programme.
There is already a staff-level agreement between Grenada and IMF on the package.
Subsequently, the required letter of intent was signed on June 12.
The government of Grenada has embarked on a three-year programme that is aimed at leading the economy back to a path of sustainability, after a long period of high debt and low growth.