{
  "title": "Solomon Islands: Staff Report for the 2005 Article IV Consultation",
  "publication": "IMF Staff Country Reports, October 13, 2005",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/solomon-islands-staff-report-for-the-2005-article-iv-consultation-18621",
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  "summary": "The Solomon Islands’s 2005 Article IV Consultation reports that the improvement in the economic performance registered after the arrival of the Australian-led intervention force in mid-2003 has continued.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The improvement in economic performance that began after the arrival of the Australian-led intervention force in mid-2003 has continued.\n- The external current account is projected to deteriorate, reflecting investment-related imports.\n- Reserve coverage is expected to remain comfortable despite the projected current account deterioration.\n- The budget is projected to record a small deficit owing to one-off factors and higher spending as capacity and wages rise.\n- Logging is set to decline from an unsustainable level; much depends on new private activities to replace lost incomes, exports, and government revenue."
    },
    {
      "heading": "Macroeconomic outlook and external position",
      "content": "- Continued economic improvement following mid-2003 intervention.\n- Projected deterioration in the external current account driven by investment-related imports.\n- Reserve coverage assessed as likely to remain comfortable in the projection."
    },
    {
      "heading": "Fiscal outlook and public finance",
      "content": "- Budget projected to record a small deficit.\n- Drivers of the fiscal outcome:\n  - One-off factors.\n  - Higher spending as capacity and wages rise."
    },
    {
      "heading": "Structural issues and sectoral risks",
      "content": "- Logging noted to be at an unsustainable level and is expected to decline.\n- Key dependency: development of new private activities to offset reductions in:\n  - Household incomes.\n  - Export earnings.\n  - Government revenue."
    },
    {
      "heading": "Subject focus and keywords (as listed)",
      "content": "- Subject: Expenditure, External debt, International trade, Public debt\n- Keywords: Arrears, authority, balance of payments, broad money, CR, credit growth, current account, deficit, excess reserves, financing, Imports, ISCR, Pacific Islands, private sector, Solomon Islands debt situation, support grant, U.S. dollar\n\n---\n\n Content in this bundle\n\n- cr05365\n  - cr05365 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr05365 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: October 13, 2005",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451834369.002",
    "The improvement in economic performance that began after the arrival of the Australian-led intervention force in mid-2003 has continued.",
    "The external current account is projected to deteriorate, reflecting investment-related imports.",
    "Reserve coverage is expected to remain comfortable despite the projected current account deterioration.",
    "The budget is projected to record a small deficit owing to one-off factors and higher spending as capacity and wages rise.",
    "Logging is set to decline from an unsustainable level; much depends on new private activities to replace lost incomes, exports, and government revenue.",
    "Continued economic improvement following mid-2003 intervention.",
    "Projected deterioration in the external current account driven by investment-related imports.",
    "Reserve coverage assessed as likely to remain comfortable in the projection.",
    "Budget projected to record a small deficit.",
    "Drivers of the fiscal outcome:",
    "Logging noted to be at an unsustainable level and is expected to decline.",
    "Key dependency: development of new private activities to offset reductions in:",
    "Subject: Expenditure, External debt, International trade, Public debt",
    "Keywords: Arrears, authority, balance of payments, broad money, CR, credit growth, current account, deficit, excess reserves, financing, Imports, ISCR, Pacific Islands, private sector, Solomon Islands debt situation, support grant, U.S. dollar",
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