IMF begins economic surveillance of Grenada as part of Article IV consultation

St George’s, Grenada: The Government of Grenada has recently informed that a team from the International Monetary Fund (IMF) is currently in Grenada to conduct surveillance of the Grenadian economy as part of its Article IV Consultation.

As per the update by the government, the Article IV Consultation is regarded as the “economic health check” of a country. The previous Article IV Consultation for Grenada was concluded on May 4, 2022.

The team is headed by Huidan Lin, IMF Mission Chief for Grenada; the government stated.

Other partners joining the mission include representatives from the World Bank Group, the Caribbean Development Bank (CDB), as well as the Eastern Caribbean Central Bank (ECCB).

In conclusion, the Grenadian government noted that while in Grenada, the team plans to hold discussions with various stakeholders in the public and private sectors, including the Prime Minister, the Minister for Finance and his team; other Government Ministers and senior public servants; the Leader of Opposition.

Accordingly, the official update noted that the stakeholders also included, representatives from the Grenada Authority for the Regulation of Financial Institutions (GARFIN); statutory bodies; the Banker’s Association; the non-bank financial sector; the Grenada Chamber of Industry and Commerce (GCIC); the manufacturing sector; the tourism sector; and the trade union movement.

The mission is scheduled to end on Friday, May 26, 2023. Further details on the mission’s conclusion will be shared at a later date.