Solomon Islands: First Review Under the Extended Credit Facility Arrangement—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Solomon Islands
August 2, 2013
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This paper discusses Solomon Islands’ First Review Under the Extended Credit Facility (ECF) Arrangement. The three-year arrangement under the ECF is on track. All December 2012 and continuous performance criteria have been met, except for the cash balance floor, which was temporarily missed by a small amount. The indicative target on health and education for December 2012 was also missed by a very small margin. The IMF staff recommends completion of the review and supports the authorities’ request for a waiver of the nonobservance of the cash balance floor at end-December, and the modification of end-June 2013 performance criteria.
Subject: Banking, Central banks, Credit, Expenditure, Imports, International reserves, International trade, Money, Public debt
Keywords: Asia and Pacific, balance, cash balance, CR, Credit, ECF-supported program, Global, government, IMF staff estimate, Imports, International reserves, ISCR, land access regime, Pacific Islands, SOE borrowing
Pages:
46
Volume:
2013
DOI:
Issue:
249
Series:
Country Report No. 2013/249
Stock No:
1SLBEA2013001
ISBN:
9781484372906
ISSN:
1934-7685
