Posted by: mulrickillion | October 14, 2011

Press Release: Statement by IMF Staff Mission to the Solomon Islands

Press Release No. 11/363
October 12, 2011

An International Monetary Fund (IMF) mission led by Patrizia Tumbarello visited Honiara during September 29–October 12. The mission reached agreement at referendum with the authorities of the Solomon Islands on a new reform program that can be supported by a precautionary Standby Credit Facility (SCF) once the current SCF arrangement expires in December 2011. The mission also conducted the Article IV Consultation and the third review under the current SCF arrangement. Preliminary data indicate that the program targets were met with comfortable margins, and the authorities continue to make progress in implementing the structural reform agenda. The Article IV Consultation discussions focused on the policy mix that could help the country improve its resilience to external shocks and achieve sustainable and inclusive growth in the medium term. IMF Mission chief Patrizia Tumbarello issued the following statement at the conclusion of the Mission’s visit. . . .

Press Release: Statement by IMF Staff Mission to the Solomon Islands

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