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.
This book blends up to date scholarship from primary sources with fascinating detail of its people and their often turbulent struggle for survival. It provides a detailed chronological historical anaylsis but focuses especially on the story and every day lives of its inhabitants from the earliest days of settlement to the overthrow, and execution, of the revolutionary Prime Minister Maurice Bishop in 1981, and beyond.
In the fall of 1983, arguably the coldest year of the decades-long Cold War, the world's greatest superpower invaded Grenada, a Marxist-led Caribbean nation the size of Atlanta. Why and how this unlikely one-week war was waged was shrouded in secrecy at the time--and has remained so ever since. This book is an overdue reconsideration of Operation Urgent Fury, based on historical evidence that only recently has been revealed in declassified documents, oral history interviews and memoir accounts. This chronological narrative emphasizes the human dimension of a sudden crisis now regarded as the greatest foreign policy challenge of President Ronald Reagan's first term. Because the American intervention was hastily drafted, many snafus and accidents marked the chaotic initial days of the operation. Inevitably it fell to individual soldiers, aviators and sailors to perform heroic acts to make up for faulty intelligence, inadequate communication or poor coordination. This work recounts their inspiring, underreported stories in filling out a more complete portrait of Operation Urgent Fury. The final chapter recounts the invasion's aftereffects, especially the unexpected role it played in Congressional reform of the military for future combat in the Middle East.
Written by Caribbean-based writer and photographer Paul Crask, this new, thoroughly updated third edition of Bradt's Grenada, Carriacou and Petite Martinique is the only standalone guide available to this alluring Caribbean destination. With insider knowledge of the islands, from luxurious villas and resorts to pastoral villages and mountain trails, Bradt's Grenada, Carriacou and Petite Martinique is rich in detail, local colour and practical information, and offers detailed accommodation, dining and activities listings as well as the author's own take on how to maximise your stay. Whether you are into sailing, scuba diving wrecks and reefs, kayaking through mangrove forests, hiking mountain trails, 'jumping-up' at carnival, or sampling vintage rums at historic distilleries and luxurious beachside resorts, Bradt's Grenada, Carriacou and Petite Martinique is ideal for travellers of all kinds. This new edition covers the many developments on the islands in the past few years. Investment in accommodation on Grenada continues and the diversity of options is impressive: from the new Sandals resort to the Rumboat Retreat, a lodge that welcomes independent travellers as well as rum enthusiasts. More airlines now fly directly to Grenada's Maurice Bishop International Airport and the annual sailing regattas continue to attract a large international gathering. With easy access to and from North America and Europe, and with plenty of great accommodation and dining options, scenic Grenada offers a perfect blend of traditional island life with modern Caribbean living. Grenada is a tri-island nation famed for its nutmeg and cocoa, sailing regattas, jaw-dropping beaches and strong cultural traditions. The main island, Grenada, has a tall spine of forested mountain ridges surrounded by rivers, waterfalls and farmlands, and the scenic coastline is replete with secluded bays and anchorages. To the north, at the southern tip of the Grenadines island chain, Carriacou and Petite Martinique are tranquil and beautiful. Noted for traditions of Big Drum Dance and boat building, both islands enjoy deserted beaches and coral reefs and offer a warm and friendly welcome.
The fight against economic and social backwardness and imperialist bullying in the Carribean and Central America, as presented in speeches and articles by political leaders from the region in the late 1980s.
In this balanced and thought-provoking study, Russell Crandall examines the American decision to intervene militarily in three key episodes in American foreign policy: the Dominican Republic, Grenada, and Panama. Drawing upon previously classified intelligence sources and interviews with policymakers, Crandall analyzes the complex deliberations and motives behind each intervention and shows how the decision to intervene was driven by a perceived threat to American national security. By bringing together three important cases, Gunboat Democracy makes it possible to interpret and compare these examples and study the political systems left in the wake of intervention. Particularly salient in today's foreign policy arena, this work holds important lessons for questions of regime change and democracy by force.
Grenada experienced much turmoil in the 1970s and 1980s, culminating in an armed Marxist revolution, a bloody military coup, and finally in 1983 Operation Urgent Fury, a United States-led invasion. Wendy C. Grenade combines various perspectives to tell a Caribbean story about this revolution, weaving together historical accounts of slain Prime Minister Maurice Bishop, the New Jewel Leftist Movement, and contemporary analysis. There is much controversy. Though the Organization of American States formally requested intervention from President Ronald Reagan, world media coverage was largely negative and skeptical, if not baffled, by the action, which resulted in a rapid defeat and the deposition of the Revolutionary Military Council. By examining the possibilities and contradictions of the Grenada Revolution, the contributors draw upon thirty years' of hindsight to illuminate a crucial period of the Cold War. Beyond geopolitics, the book interrogates but transcends the nuances and peculiarities of Grenada's political history to situate this revolution in its larger Caribbean and global context. In doing so, contributors seek to unsettle old debates while providing fresh understandings about a critical period in the Caribbean's postcolonial experience. This collection throws into sharp focus the centrality of the Grenada Revolution, offering a timely contribution to Caribbean scholarship and to wider understanding of politics in small developing, postcolonial societies.
"A PAGE-TURNING WHO-DONE-IT. A MUST READ!" (Horace Levy, Sociologist, University Lecturer, Civil Society activist and Journalist, Jamaica) Finally, the inside story: honest, self-critical, and based on a wealth of credible and independent documentation. Bernard Coard reveals in dramatic detail the factors, forces and personalities which cumulatively led to deepening crisis within the Grenada Revolution and ultimately to wholesale tragedy. Bernard Coard, United States and British trained economist and university lecturer, played a leading role in the NJM and in the People's Revolutionary Government of Grenada. His experience, including 26 years as a political prisoner, offers a unique insight into the causes, course, and finally the implosion of the Revolution.
