Grenada has a largely tourism-based, small, open economy. Over the past two decades, the economy shifted from one of agriculture-dominant into that of services-dominant, with tourism serving as the leading foreign currency earning sector. The economy relies heavily on development funding and is vulnerable to natural disasters. The 2014 IMF programme for Grenada is on track and the growth outlook is positive. In 2015, creditors were able to agree to a debt restructuring of USD 262 million of defaulted bonds with Grenada following its 2013 default.