IMF OKs Grenada Funding

The International Monetary Fund will release USD3.66 million to Grenada following the second review of the country’s economic performance under the Poverty Reduction and Growth Facility. “The Grenadian authorities are committed to implementing fully their program of economic reform, which is being supported by a PRGF arrangement. Against the backdrop of a difficult external environment, they are strengthening macroeconomic management and have developed a well-focused structural reform agenda,” IMF Deputy Managing Director Murilo Portugal said. (“IMF Executive Board Concludes Second Review under the PRGF Arrangement with Grenada and Approves USD3.66 Million Disbursement” - International Monetary Fund, Dec. 12, 2008)