Solomon Islands: 2008 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion
IMF Staff Country Reports, November 14, 2008
Source details
- Canonical URL
- Solomon Islands: 2008 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion
Other formats
Bibliographic details
- Published: November 14, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451834406.002
Economic outlook and central finding
- The economic outlook hinges critically on developing nonlogging sources of growth and exports to offset the expected decline in logging activity.
- Executive Directors recommended that the central bank seek to develop financial markets further and make greater use of interest rate mechanisms of monetary control.
- To avoid placing undue burden on monetary policy, fiscal policy needs to play a supportive role.
Binding constraints and structural issues
- Poor infrastructure.
- Land ownership issues.
- Shortage of skilled labor.
- Unreliable and costly basic services.
Policy recommendations and institutional advice
- Develop nonlogging sources of growth and exports to compensate for declining logging activity.
- Central bank actions:
- Develop financial markets further.
- Make greater use of interest rate mechanisms of monetary control.
- Fiscal policy:
- Play a supportive role to avoid placing undue burden on monetary policy.
Thematic coverage and keywords
- Subject areas: Agroindustries, Balance of payments statistics, Economic sectors, External debt, Health, Inflation, Prices, Public debt.
- Keywords: Agroindustries, Asia and Pacific, Australia and New Zealand, CBSI staff, CR, creating flow, debt, GDP, Global, Inflation, ISCR, Pacific Islands, PFTAC advisor, price, price index, real GDP, reference price, Sub-Saharan Africa, sustainability analysis.