ST. GEORGE, GRENADA, March 3, 2015 - GIS: The two year old Keith Mitchell government is being applauded for turning around a sluggish economy and outperforming targets set out in a three-year structural adjustment programme.
Those heaping praise on the administration in St.George’s include the IMF and the president of the Caribbean Development Bank (CDB) Dr. William Warren Smith.
The IMF is predicting economic growth of 2 per cent this year compared to the 1.1 per cent projected at an earlier review.
“So many other people have been complimenting us because the international institutions are seeing Grenada as a model for what they believe …that small economies that have been experiencing deficit problem… how can they move to correct it and set a path for sustained economic development,” Dr. Mitchell pointed out.
After four years in decline the Grenada economy rebounded in 2013 growing by 3.1 percent and 2.6 percent in 2014.
“So I think all the barometers, all the measures, all the variables have shown that we are heading in the right direction”