Download or read book Solomon Islands written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2020-02-18 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with the Solomon Islands highlights that the country has made substantial progress since the Tensions in the early 2000s but faces considerable economic and governance challenges and is highly vulnerable to natural disasters. Finding new sources of growth is becoming urgent with the decline in logging. The consultation focused on similar issues to last year—restoring fiscal buffers to build resilience, strengthening public financial management and public investment management, setting a medium-term fiscal strategy, improving governance, improving exchange rate management and building conditions for sustainable growth. The report recommends developing a holistic approach to medium-term fiscal policy by setting a realistic spending envelope and establishing a medium-term revenue strategy. Together with strengthened budget planning and expenditure control, this would provide greater budget predictability and support natural disaster contingency planning. It is also imperative to strengthen enforcement of governance standards, apply the mining fiscal regime rigorously, improve transparency and advance the anti-corruption agenda.
Download or read book Solomon Islands written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2023-05-12 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy is recovering from the shocks of civil unrest in November 2021 and a local outbreak of COVID-19 in early 2022, driven by increasing activity after the reopening of the border and preparation for the 2023 Pacific Games. But the recovery has been fragile, as Russia’s war in Ukraine has led to a decline in the terms of trade and rising inflation. A large pipeline of infrastructure projects financed by concessional borrowing is expected to support medium-term growth and help reduce a large infrastructure gap. But the country’s external position is projected to significantly weaken because of these projects and declining log exports, with reserve coverage declining as a result. This outlook highlights the pressing needs for reform to improve public investment management, as well as to diversify the economy and enhance its competitiveness.
Download or read book Solomon Islands Staff Report for the Article IV Consultation written by and published by . This book was released on 2008 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Solomon Islands written by Subir Lall and published by . This book was released on 2009 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Solomon Islands written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2018-11-08 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Solomon Islands has made substantial progress since the Tensions in the early 2000s but faces considerable economic and governance challenges and is highly vulnerable to natural disasters. The logging industry confronts depletion and new sources of growth are needed. Governance challenges are significant, stemming from weak oversight of the resource sectors, a lack of transparency and a need to strengthen public financial management.
Download or read book Solomon Islands written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2014-01-22 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2013 Article IV Consultation highlights that economic growth in Solomon Islands is slowly rebounding from the slowdown of the first half of 2013, when agriculture, logging, and gold production fell, owing mainly to unfavorable weather developments, lower terms of trade, and one-off factors. Real GDP growth is projected at 2.9 percent for 2013 and 4 percent for 2014. Risks are tilted to the downside, including from lower external demand and grants. Inflation has stabilized at about 6.5 percent and is expected to fall gradually as agricultural prices react to the recovery of production.
Download or read book The Solomon Islands written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-11-03 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2009 Article IV Consultation highlights that economic conditions in the Solomon Islands have weakened in 2009, given the effects of the global recession and a logging sector decline. Real GDP growth is projected at 0.4 percent in 2009, compared with 6.9 percent in 2008. On the positive side, inflation pressures have eased substantially, mainly owing to lower fuel and food prices. Executive Directors have advised the authorities to address the increasingly unsustainable fiscal situation, given possible permanent losses in logging-related revenues, relatively large expenditure outlays, and government financing constraints.
Download or read book Solomon Islands 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Solomon Islands written by International Monetary and published by . This book was released on 2022-01-21 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Solomon Islands
Download or read book Solomon Islands written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2018-03-05 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 Article IV Consultation highlights that the economy of the Solomon Islands grew by 3.5 percent in 2016 driven by a peak in the forestry sector. Growth remained solid in 2017 and is projected at 3.0 for 2018, buoyed by infrastructure spending, fisheries and agriculture, although logging production is slowing down. Inflation is contained at an annual rate of just 1.6 percent in October 2017. The current account deficit has widened a little but international reserves levels are comfortable. The fiscal deficit is expected to have reached 4.0 percent of GDP in 2017 and to widen further in 2018. The risks to the economy are on the downside with the weakening fiscal position heightening vulnerability to shocks.
Download or read book Solomon Islands Staff Report for the 2005 Article IV Consultation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-10-13 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Solomon Islands’s 2005 Article IV Consultation reports that the improvement in the economic performance registered after the arrival of the Australian-led intervention force in mid-2003 has continued. The projected deterioration in the external current account reflects investment-related imports, but reserve coverage should remain comfortable. The budget is projected to record a small deficit owing to one-off factors and higher spending as capacity and wages rise. With logging set to decline from its unsustainable level, much depends on new private activities coming on stream to replace lost incomes, exports, and government revenue.
Download or read book Solomon Islands written by Steven Dunaway and published by . This book was released on 2006 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Solomon Islands 2005 Article IV Consultation written by Steven Dunaway and published by . This book was released on 2005 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Solomon Islands 2004 Article IV Consultation written by Steven Dunaway and published by . This book was released on 2004 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Solomon Islands 2007 Article IV Consultation written by Steven Dunaway and published by . This book was released on 2007 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Solomon Islands written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-10-23 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the intervention of the Regional Assistance Mission to the Solomon Islands, growth has rebounded, and financial stability has been maintained. Fiscal discipline should be sustained, and a medium-term strategy developed taking into account looming pressures. The central bank’s current exchange rate policy is appropriate, but requires vigilance. Financial system soundness should be strengthened by liquidating the development bank, and raising the profitability of the National Provident Fund. Structural reforms to encourage new private sector activities should be vigorously implemented.
Download or read book Solomon Islands written by International Monetary Fund and published by . This book was released on 2007 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Solomon Islands written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2016-03-23 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an overview of Solomon Islands’ economy. Although Solomon Islands is a small island state, low-income country that is severely affected by external shocks, including commodity price declines, natural disasters, and climate change, it has achieved considerable gains in terms of macroeconomic stability under the Extended Credit Facility program. Despite the low access, the program has been effective in catalyzing donor support. Economic growth in 2015 is estimated at 31⁄4 percent. Near-term prospects remain favorable but new sources of growth are needed over the medium term. Key policy recommendations have been discussed in the paper to further strengthen the economy of Solomon Islands.
