Generally, macroeconomic performance has been as envisaged at the time of the program request. The near-term outlook has improved, despite uncertain global conditions. The new government of Solomon Islands remains committed to program targets and objectives agreed. The government's efforts in adhering to program fiscal targets are commendable, as the main anchor to macroeconomic stability. Excess liquidity in the banking system and commodity price pressures continue to pose inflation risks. Strong adherence to the program would help anchor macroeconomic policy and address structural weaknesses.