The Government of Grenada is firmly committed to good fiscal governance, and accordingly, sought technical assistance (TA) from the International Monetary Fund (IMF) to help strengthen Grenada’s fiscal responsibility regime.
To this end, an IMF TA team conducted a mission to Grenada over the period 11–25 April 2023 to review the Fiscal Responsibility Act, No. 29 of 2015 (FRA). The specific objective of the mission was to make recommendations to simplify the legislative requirements of the FRA, clarify extant ambiguities, introduce flexibility, and ensure consistency with other financial legislations.
The IMF team held technical discussions with the Ministry of Finance and engaged other stakeholders, including the Fiscal Responsibility Oversight Committee, the Public Accounts Committee, the Audit Department, the Department of Public Administration, Trade Unions, and the Eastern Caribbean Central Bank.
Based on the technical guidance provided by the IMF and taking into consideration Grenada’s own fiscal and sustainable development priorities, the Ministry of Finance will engage in further consultations with stakeholders before making final recommendations to Cabinet for amendments to the FRA.
An amended FRA will improve its operational efficiency to better support Government’s fiscal objectives and broader sustainable development, resilience-building, and transformational goals.
GIS
Ok this is someone else telling Grenada who to do and at the same time keeping an eye on our finances.
Telling Grenada what to do.