Grenada : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update
This report provides a Debt Sustainability Analysis (LIC-DSA) of Grenada’s public and publicly guaranteed (PPG) external and total debt for 2018. The macro-framework incorporates all previous debt restructurings, including the November 2017 haircut...
| Main Authors: | , |
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/828521537338616086/Grenada-Joint-Bank-Fund-Debt-Sustainability-Analysis-2018-Update http://hdl.handle.net/10986/30530 |
| Summary: | This report provides a Debt
Sustainability Analysis (LIC-DSA) of Grenada’s public and
publicly guaranteed (PPG) external and total debt for 2018.
The macro-framework incorporates all previous debt
restructurings, including the November 2017 haircut on
commercial debt. Total public debt has declined from 108
percent of GDP in 2013 to below 71 percent of GDP in 2017
with external public debt declining to 48 percent of GDP.
This reduction was made possible through a comprehensive
restructuring of Grenada’s public debt, fiscal
consolidation, and robust economic growth. Nevertheless,
with some US$15.7 million (1.4 percent of GDP) in unresolved
arrears to official bilateral creditors, Grenada’s external
debt risk rating remains ‘in debt distress’. Going forward
full regularization of arrears and continued fiscal
discipline will be needed to keep the debt on a downward
path and withstand the existing vulnerabilities to external
shocks and natural disasters. |
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