## 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](https://www.imf.org/en/publications/cr/issues/2020/06/04/solomon-islands-requests-for-purchase-under-the-rapid-financing-instrument-and-disbursement-49488)

## Other formats

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## Bibliographic details
- Published: June 4, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513546599.002

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### 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).*

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_Source: https://www.imf.org/en/publications/cr/issues/2020/06/04/solomon-islands-requests-for-purchase-under-the-rapid-financing-instrument-and-disbursement-49488_