Solomon Islands: 2011 Article IV Consultation, Third Review Under the Stand-by Credit Facility, and Request for Arrangement Under the Stand-by Credit Facility: Staff Report; Staff Supplements; Public Information Notice and Press Releases; and Statement by the Executive Director for Solomon Islands

December 19, 2011

Summary

Solomon Islands’ economy has rebounded from the 2008–09 global financial crisis. An 18-month Standby Credit Facility has been approved in June 2010 and succeeded in restoring macroeconomic and financial stability. A new resource taxation regime is the key to reap the benefits from natural resource wealth and ensure that the government receives a fair share of mining revenue. Reforms of mining legislation should be a key part of a broader set of measures to improve the investment climate and the regulatory framework.

Subject: Commercial banks, Credit, External debt, Fiscal policy, Fiscal stance, Money, Public debt, Public financial management (PFM)

Keywords: Australia and New Zealand, CR, Credit, debt, Fiscal stance, Global, ISCR, mining legislation, Pacific Islands, resource taxation regime, SCF arrangement, SCF-supported program, Solomon Islands' economy, staff appraisal

Pages:
95
Volume:
2011
DOI:
https://doi.org/10.5089/9781463929909.002
Issue:
359
Series:
Country Report No. 2011/359
Stock No:
1SLBEA2011001
ISBN:
9781463929909
ISSN:
1934-7685

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