Solomon Islands: 2016 Article IV Consultation and Fifth and Sixth Reviews Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Solomon Islands

March 23, 2016

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Solomon Islands: 2016 Article IV Consultation and Fifth and Sixth Reviews Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Solomon Islands, (USA: International Monetary Fund, 2016) accessed December 21, 2024

Summary

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 3¼ 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.

Subject: Currencies, Environment, Expenditure, External debt, Natural disasters, Public debt, Public financial management (PFM)

Keywords: Asia and Pacific, Authorities' effort, Basket peg regime, CR, Debt, Deficit, ECF arrangement, Government, IMF's Extended Credit Facility, ISCR, Natural disasters, Pacific Islands, Reform agenda

Publication Details

Pages:

94
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/090
Stock No:

1SLBEA2016001
ISBN:

9781498371865
ISSN:

1934-7685

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