Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.91%
12M T-Bill Rate10.21%
2Y T-Bond Rate10.65%/ 10.75%
4Y T-Bond Rate11.80% / 11.85%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $1,229 Mn (March 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Grenada’s Commercial Debt Restructuring

InternationalAug 22, 2022
Grenada’s Commercial Debt Restructuring

Grenada experienced a second sovereign debt restructuring during 2013–15, about a decade after its first restructuring during 2004–06, which was triggered by Hurricane Ivan. Prior to the debt restructuring, Grenada experienced a period of fiscal expansion and was hit by Hurricane Ivan in September 2004.

Although the debt restructuring provided Grenada with substantial liquidity relief through maturity extension and coupon reduction over the short term, underlying debt sustainability concerns were not addressed.

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