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Grenada expecting $21.9 million first payment from IMF
Published on June 23, 2014 Email To Friend    Print Version

ST GEORGE'S, Grenada (GIS) -- 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.
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