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Tuesday, October 17 2017 @ 12:59 PM AST

Grenada debt repayments to skyrocket, IMF Working Paper suggests

Trinidad and Tobago loaned Grenada US$16.5 million

"Grenada did not issue new bonds other than in the RGSM and in the domestic market. Both the global financial crisis of 200708 and reoccurrence of debt restructurings in the Caribbean (Section VI) raised the risk aversion of private sector creditors, preventing new external commercial debt issuances. Grenada relied largely on official project financing from bilateral and multilateral creditors, including a budget support in the amount of US$16.5 million from Trinidad and Tobago." - - IMF Working Paper: Sovereign Debt Restructurings in Grenada: Causes, Processes, Outcomes, and Lessons Learned by Tamon Asonuma, Mike Xin Li, Michael G. Papaioannou, Saji Thomas, and Eriko Togo.

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