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International Monetary Fund

.1 Fish catch 100.0 120.0 172.6 126.8 121.2 Timber 100.0 107.4 123.0 124.4 101.6 Cocoa 100.0 100.0 136.4 75.8 66.7 Consumer prices (Annual percentage change) 9.2 13.3 9.6 11.8 8.1 Sources: Data provided by the Solomon Islands authorities; and Fund staff estimates. 1/ Includes mining and exploration, manufacturing, electricity and water, and construction. 2/ Includes retail and wholesale trade, transportation and communications, finance, and other services

International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Mr. Douglas A. Scott and Mr. Christopher Browne

.8 Plantations 12.5 10.4 11.1 9.8 10.4 8.8 10.0 9.7 8.9 10.8 9.7 9.0 8.3 Timber 1 228.6 264.1 259.0 274.2 298.8 298.8 364.5 388.3 394.8 422.9 378.0 431.5 321.0 Palm oil … 7.0 10.9 13.0 14.2 18.1 19.2 19.7 19.7 19.7 20.0 14.6 12.0 Cocoa 0.2 0.1 0.2 0.2 0.3 0.3 0.6 0.7 1.2 1.7 1.7 2.0 2.7 Rice 1.2 3.8 6.3 7.7 10.2 14.3 13.9 10.5 9.5 7.1 5.7 2.4 0.2 Source: Data provided by the Solomon Islands authorities. 1 In

International Monetary Fund. Asia and Pacific Dept
This paper presents Solomon Island’s Requests for Purchase Under the Rapid Financing Instrument and Disbursement Under the Rapid Credit Facility. In order to address the pandemic, the Solomon Islands’ authorities have taken measures to prevent the entry of coronavirus disease 2019 (COVID-19), to increase health and containment spending, and to provide targeted support for vulnerable households and businesses. IMF financing will help fill immediate financing needs and catalyze additional financing from its development partners to support the COVID-19 response. The authorities’ immediate policy response has focused on strong and timely containment measures to limit the risk of a local outbreak while reprioritizing spending toward health care. They have also adopted a fiscal stimulus package with measures targeted at providing social assistance, protecting jobs and incomes and stabilizing the domestic economy. Beyond the immediate response to the external shock, the authorities should remain committed to policies that promote inclusive growth and resilience while containing external pressures, protecting financial stability and preserving fiscal sustainability.
International Monetary Fund
International Monetary Fund

amount equivalent to SDR 9.36 million (about US$14.95 million). The SCF arrangement was approved on June 2, 2010 (see Press Release No. 10/223) for an amount equivalent to SDR 12.48 million (about US$19.93 million), or 120 percent of the Solomon Islands' quota. Following the Executive Board's discussion on Solomon Islands, Mr. Naoyuki Shinohara, Deputy Managing Director and Acting Chair, stated: “The Solomon Islands authorities are to be commended for their strong program performance under the Standby Credit Facility arrangement. The macroeconomic outlook remains

International Monetary Fund. Asia and Pacific Dept

.446 million (about US$ 0.68 million). The three-year ECF arrangement was approved on December 7, 2012, in an amount equivalent to SDR 1.04 million (about US$1.59 million), or 10 percent of the country’s quota (see Press Release No. 12/479). Following the Executive Board’s discussion on Solomon Islands, Mr. Min Zhu, Deputy Managing Director and Acting Chair, stated: “The Solomon Islands authorities are to be commended for the broadly satisfactory implementation of their economic and financial program supported under the ECF.. Sound policies helped the economy deal with

International Monetary Fund. Asia and Pacific Dept

The Solomon Islands authorities consider the ECF is valuable to promote continued macroeconomic and financial stability and build momentum for reform, and they remain firmly committed to this three-year program . The program is helping to strengthen the institutional framework to ensure enduring improvements to macroeconomic and public financial management, and to address structural issues that hold back improvements in living standards for Solomon Islanders. The ECF (and predecessor SCF arrangements) have helped strengthen donor support and the ongoing

International Monetary Fund. Asia and Pacific Dept

FOR IMMEDIATE RELEASE The IMF Executive Board approved the disbursement of US$28.5 million in emergency financing to help Solomon Islands address urgent balance of payments needs created by COVID-19, which is having a severe impact on exports, tourism, and domestic activity. To address the pandemic, the Solomon Islandsauthorities have taken measures to prevent the entry of COVID-19, to increase health and containment spending, and to provide targeted support for vulnerable households and businesses. IMF financing will help fill immediate financing

International Monetary Fund. Asia and Pacific Dept

In the attached letter, the Solomon Islands authorities request an extension of their arrangement under the Extended Credit Facility (ECF), due to expire on December 6, 2015, through March 31, 2016. The Executive Board approved on December 7, 2012 a three-year ECF arrangement for Solomon Islands, in an amount equivalent to SDR 1.04 million (10 percent of quota). Following the completion of four program reviews, SDR 0.743 million (7 percent of quota) has been drawn. The proposed extension will provide sufficient time for the Board to consider the fifth and