WASHINGTON, Feb 4, CMC -The executive board of the International Monetary Fund (IMF) Tuesday welcomed Grenada’s robust economic performance in 2023 and the first half of 2024, buoyed by strong tourism.
The executive board has concluded the Article IV consultation with Grenada, agreeing with the thrust of the staff appraisal.
In their appraisal, the IMF delegation noted that through end-June 2024, Grenada’s economy was experiencing sustained strong growth supported by buoyant tourism, moderating inflation, and a narrowing current account deficit.
The IMF said a surge in Citizenship-by-Investment (CBI) revenue supported a strong improvement in the fiscal position and reduction in public debt. The financial system remained stable.
Under the CBI, foreign investors are provided with citizenship of the country in return for making a substantial investment in the socio-economic development of Grenada.
(Details in Business section)
CMC/2025