(Trinidad Express) Trinidad and Tobago is the only major lender-country from which Grenada has borrowed money that it has not been paying back, according to an International Monetary Fund (IMF) country report dated July 25.
IMF Head of Mission to Grenada, Bogdan Lissovolik, noted Grenada is yet to regularise its debt payments to T&T in his country report on the Caribbean island.
Following his team’s May 2-15 annual Article IV consultation, Lissovolik wrote: “The primary fiscal surplus (of Grenada) rose to 5.75 per cent of gross domestic product (GDP) in 2017 supported by buoyant revenues and expenditure restraint. Robust economic growth and improved tax administration bolstered revenues. Current spending has been contained by the fiscal rules and continuation of the government’s attrition policy.”