IMF Staff Country Reports

Solomon Islands: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Solomon Islands

February 25, 2025

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International Monetary Fund. Asia and Pacific Dept "Solomon Islands: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Solomon Islands", IMF Staff Country Reports 2025, 049 (2025), accessed March 9, 2025, https://doi.org/10.5089/9798229002639.002

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Summary

Solomon Islands has weathered the shocks of civil unrest, pandemic, and commodity price hikes, and achieved the milestones of hosting the Pacific Games in late 2023 and conducting peaceful general elections in April 2024. These achievements have raised the country's profile and strengthened national unity, but with costs—public debt has nearly tripled since before the pandemic, and the government's cash reserves have been significantly depleted. While staff expects continued modest growth in 2024 and 2025, medium-term growth prospects appear moderate and fiscal and current account deficits are expected to persist. Now is the time for the authorities to advance reforms to tackle the perennial challenge of stagnant per-capita income growth, while ensuring fiscal sustainability and resilience.

Subject: Budget planning and preparation, Expenditure, External debt, Public debt, Public financial management (PFM)

Keywords: Article IV consultation discussion, Asia and Pacific, Budget planning and preparation, CBSI approval, CBSI assessment, Global, Government estimate, Pacific Islands, Solomon Islands' economy

Publication Details

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