Solomon Islands: Second Review Under the Standby Credit Facility and Request for a Three-Year Arrangement Under the Extended Credit Facility—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Solomon Islands.
International Monetary Fund, Dec 12, 2012 - Business & Economics - 67 pages
This paper is an account of the economic conditions of the Solomon Islands. The macroeconomic situation has shown a considerable expansion in recent years with the external buffers intact. Although the Islands have shown good growth, the IMF staff expects only a moderate performance in 2013 and 2014 owing to the euro area crisis. However, the state has prepared for any downside risks, and approaches the macroeconomic circumstances with a positive outlook. The Executive Board admires the efforts of the Islands.
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IV Program Discussions Monitoring and Other Issues
V Staff Appraisal
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adjustors arrears AsDB Asian Development Bank assets beneﬁt budget support CB SI CBSI central government contracted or guaranteed Core Economic Credit Facility current account customs and excise debt service debt sustainability deﬁcit deﬁned Deposits Account disbursement draft amendments ECF arrangement Economic end of period end-June estimates and projections exchange rate expected exports external borrowing external debt ﬁnancing ﬁrst ﬁscal ﬂoor foreign foreign exchange market framework Fund GNFS grants Honiara IMF staff estimates implementation imports of GNFS inclusive growth indicative targets International Monetary Fund international reserves liabilities logging macroeconomic medium term MEFP millions Monetary multilateral donors excluding ofﬁcial Paciﬁc percent of GDP PICs private sector program cash balance program level public debt public sector recurrent spending reﬂecting reform Reserve money revenue review and observance revised Solomon Islands dollars speciﬁed strengthen structural benchmarks Submit to Cabinet support from bilateral transparency treasury bills U.S. dollar