01924cas a2200277 a 4500 AALejournalIMF017818 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484311035 1018-5941 BD-DhAAL BD-DhAAL Asonuma, Tamon. Sovereign Debt Restructurings in Grenada : Causes, Processes, Outcomes, and Lessons Learned / Tamon Asonuma, Xin Li, Michael Papaioannou, Saji Thomas. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (58 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper documents the two debt restructurings that Grenada undertook in 2004-06 and 2013-15.Both restructurings emerged as a consequence of weak fiscal and debt situations, whichbecame unsustainable soon after external shocks hit the island economy. The two restructurings provided liquidity relief, with the second one involving a principal haircut. However, the first restructuring was not able to secure long-term debt sustainability. Grenada's restructuring experience shows the importance of (1) establishing appropriate debt restructuring objectives; (2) committing to policy reforms and maintaining ownership of the restructuring goals; and (3) engaging closely and having clear communications with creditors. Mode of access: Internet Li, Xin. Papaioannou, Michael. Thomas, Saji. IMF Working Papers; Working Paper ; No. 2017/171 Full text available on IMF http://elibrary.imf.org/view/journals/001/2017/171/001.2017.issue-171-en.xml IMF e-Library