IMF Staff Country Reports

Solomon Islands: Request for an Arrangement Under the Standby Credit Facility: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Solomon Islands

Publication Date:

July 8, 2010

Electronic Access:

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Summary:

The effects of the global recession and decline in logging have undermined macroeconomic stability in the Solomon Islands. The government’s program offers a basis for resuming strong growth in a low inflation environment, helping to advance poverty alleviation efforts and achieve other development objectives. The current monetary policy stance is broadly appropriate, with monetary targets sufficiently accommodative to support economic recovery. Sound steps toward strong financial sector policy have been taken. The program, while not without risk, is well focused and sufficiently ambitious.

Series:

Country Report No. 2010/198

Subject:

Budget planning and preparation Commercial banks Credit Currencies Expenditure Financial institutions International reserves Money Public financial management (PFM)