(Published Jul 10, 2009) - The ratings on Grenada continue to be constrained by its high level of indebtedness--with general government debt expected to be 100% of its gross domestic product (GDP) at year-end 2009--and its continued fiscal underperformance.
Although there was some improvement in the fiscal outturn in the second half of 2008, leading to an improved overall central government deficit of 5.7% of GDP in 2008 (versus 7.3% in 2007 and 6.6% in 2006), the deficit remains high.
Furthermore, the improvements in the fiscal out-turn will be difficult to maintain in 2009. Tax revenues are coming under pressure because of a foretasted economic contraction of 1.5 percentage points, with a slow recovery of only one percentage point expected in 2010.
(Source:http://www.alacrastore.com/research/s-and-p-credit-research-Summary_Grenada-733272)
something needs to be done to boost the economy when it comes to returning residents willing to build back home the price is just to high the builders are charging to much to build a home thefore folks are going to other caribbean islands when they retire and build there , stop running your people we want them back home to help the economy we need the LBS and the YANKEE dollars home.laugh.
