Solomon Islands: Requests for Purchase under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility — Press Release; Staff Report; and Statement by the Executive Director for the Solomon Islands
IMF Staff Country Reports, June 4, 2020
Source details
- Canonical URL
- Solomon Islands: Requests for Purchase under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility — Press Release; Staff Report; and Statement by the Executive Director for the Solomon Islands
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Bibliographic details
- Published: June 4, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513546599.002
Context and purpose
- Presents the Solomon Islands’ Requests for Purchase Under the Rapid Financing Instrument and Disbursement Under the Rapid Credit Facility in response to the COVID-19 pandemic.
- IMF financing intended to:
- help fill immediate financing needs, and
- catalyze additional financing from development partners to support the COVID-19 response.
Immediate public health and containment actions
- Authorities have taken measures to prevent the entry of coronavirus disease 2019 (COVID-19).
- Reprioritized spending toward health care to increase health and containment spending.
- Adopted strong and timely containment measures to limit the risk of a local outbreak.
Fiscal and economic response
- Adopted a fiscal stimulus package with measures targeted at:
- providing social assistance,
- protecting jobs and incomes, and
- stabilizing the domestic economy.
- Targeted support measures for vulnerable households and businesses.
Role of IMF support
- IMF financing will provide immediate liquidity to meet urgent fiscal needs.
- IMF support is expected to catalyze further assistance from development partners, enhancing the overall COVID-19 response.
Policy priorities beyond the immediate response
- Authorities should remain committed to policies that:
- promote inclusive growth and resilience,
- contain external pressures,
- protect financial stability, and
- preserve fiscal sustainability.
International Monetary Fund. Solomon Islands: Requests for Purchase under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility — Press Release; Staff Report; and Statement by the Executive Director for the Solomon Islands (June 4, 2020).
Content in this bundle
- 1slbea2020002