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Under these circumstances, the Government intends to seekthe cooperation of its creditors, as a critical element of a comprehensive economicprogramme, with the objective of returning the Country to a position of economicstabilization and debt Versace Man's Glasses The Executive Board of the International Monetary Fund has approved SDR. We expect somerecovery in Versace Man's Glasses collection next year with further improvement in. The OECS Education Reform Project, approved in June for US.
The Government of Grenada is announcing its intention to seek the cooperation of itscreditors as a critical element of its economic stabilization and reconstruction effortfollowing the widespread damage inflicted on the economy and its people Gianni Versace Sun Glasses Hurricane Ivan. We will maintain a close dialogue with the Fund staff in formulating thisstrategy. Kitts and Nevis, St. The hurricane has set back the governments efforts to address fiscal Versace Handbags Prior to thehurricane, Grenada had been making progress in addressing these imbalances, in part through a comprehensive review of tax policies and a medium term fiscal strategy to bring debt down tomore manageable levels. The Banks support to Grenada under this project is for US. Kitts Versace Man's Eau Fraiche Nevis, St.
However, it is clear that a major reconstruction and rehabilitation effort requiringconsiderable external assistance will be needed. The IMF provides emergency assistance to member countries hit by natural disasters to helpthem meet immediate balance of payments financing needs, Versace Hand Bags maintain or restoremacroeconomic stability.
The damage caused by Hurricane Ivan is estimated at over percent of GDP. The economy is now anticipated to Versace Man's Glasses by about percent in compared with thepre hurricane forecast of percent growth. In conjunction with the IMF, a Financial Versace Man's Glasses Versace Suits Program wascompleted in early. While the above measures have served to narrow the immediate imbalances and ensure thatrevenues can be collected Versace Watch For Lady the economy recovers, there is a large financing shortfall ofUS million for the remainder of the year. Indeed, the economy will likely contract Versace Prom Dresses there arepressing unanticipated reconstruction needs, and there is substantial erosion of the revenuebase, at least in the near term.
The project involves the rehabilitation of primaryschools, the rebuilding of one, the provision of architectural and engineering services,furniture replacement, consultancy services for strengthening the services of the Ministry ofEducation in Versace Man's Glasses areas of curriculum development, Versace Diaper Bags Versace Man's Glasses and projectmanagement services. The replanting of tree crops such as nutmegs and cocoa is beingpursued. Payments Versace Woman's Clothing some creditors Versace Track Suits alreadyoverdue, but we are seeking a cooperative solution and have already published a statement tothis effect. million in loans and credits to supportEmergency Recovery Projects in Dominica, Grenada, St. million, is afollow up to the Basic Education project. million from the Banks Special Development Fund to assist theGovernment of Grenada in meeting its fiscal obligations following the devastation caused byHurricane Ivan in September. Prior to Hurricane Ivan, the economy had been growing at about. Tourism andagriculture, the two major sources of foreign exchange earnings, have been hit hard.
The overall objective of this project is to buildhuman capital which, in turn, will contribute to the diversification of the economy and moresustainable growth. In addition, work is under way on an OECS study on Growth andCompetitiveness, as well as on a Versace Ceramic Watch of large scale energy options for the OECS, underthe Energy Sector Management Assistance Program. The fall in government revenue resulting from the economic downturn coupled with theessential expenditures for relief Man's Versace Glasses rehabilitation will place great pressure on the fiscal anddebt situation of the Country in both the near term and the medium term. to years from the disbursementdate. percent growth in, driven Versace Man's Eau Fraiche Versace Man's Glasses recovery in tourism. Fiscal imbalances hadalso narrowed, containing the rise in public debt levels. In January, emergency assistance had been approved to help Grenada deal with theeffects of tropical storm Lili. The amount approved is availableimmediately to help the government deal with the devastating effects of Hurricane Ivan one ofthe strongest storms ever in the Caribbean which passed directly over Grenada in September.