Wednesday, May 25, 2005
A mission from the International Monetary Fund has said that Grenada will need more international help to recover from the substantial damage caused by Hurricane Ivan last September.
An IMF staff mission visited Grenada for two weeks during April and May, and met with the government, opposition leaders and civic groups.
The island's economy declined by 3 percent last year, a sharp reversal from the 4 percent growth that had been projected before Hurricane Ivan.
Eight percent of the labour force lost their jobs as a result of Ivan, sending Grenada's unemployment rate in 2004 above twenty percent.
The IMF mission has forecast growth of only about 1 percent this year.
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