IMF endorsed prescription

The Grenada government says it will implement a three year International Monetary Fund (IMF) endorsed fiscal restructuring programme from 2014. Prime Minister Dr. Keith Mitchell, who held talks with IMF officials in Washington earlier this month, told a news conference that the home grown structural adjustment programme would be implemented within the first quarter of 2014. He told reporters that while the full programme is yet to be fully developed, it would involve measures that will affect the population in various ways. He said he anticipates that there will be fall outs from sections of the society. “I do expect fall outs from the decisions to be taken,” Mitchell told reporters, adding “I do not enjoying doing this at all, I wish I did not have to this, I don’t expect people to love me for do this. “We are forced in a corner where we have to do something,” he added. The government has already indicated that measures to be taken would include: reducing the income tax threshold to between EC$30,000 to EC$36,000 (One EC dollar = US$.0.37 cents),  increase the percentage for those who earn more than EC$60,000; improve compliance of fees at government department where fees are collected;  cut back on wastage in all in forms such as in rental of buildings to house government offices and reducing the public stand pipes; reduce advisors to government and working out an arrangement with trade unions as it pertains to salaries for public officers.

Courtesy: www.cananewsonline.com