This paper assesses progress made in deepening and integrating systemic risk analysis and macroprudential policy advice in Article IV consultations following up on the findings of the IEO evaluation.

The technical assistance aimed to build capacity to monitor and assess systemic risk for non-bank financial institutions in the Grenada Authority for the Regulation of Financial Institutions (GARFIN).

Systemic risk refers to the possibility that a single event, such as a major financial institution’s failure, could trigger a collapse across an entire industry or the global financial system.