SOLOMON ISLANDS SEEM TO HAVE ECONOMIC DILEMMA: DENTON

Denton Rarawa - Central Bank of Solomon Islands Governor. Photo credit: CBSI.

Denton Rarawa – Central Bank of Solomon Islands Governor. Photo credit: CBSI.

The Central Bank Governor says Solomon Islands seems to be in a dilemma in terms of how to expand and grow the country’s economy.

Speaking at the official launch of the Central Bank’s 2013 Annual Report in Honiara today, Mr Rarawa says the country seems to move so slow in getting things done.

Reflecting on the theme of the launch, “Just get on with it and do it”, in the context of growing the economy, Mr Rarawa says the theme underlines the need for all stakeholders to do less talking, but more action.

He says there is also the urgent need to question whether development models adopted are appropriate the country.

“There is a need to question whether the development models we have adopted are appropriate for our country. There is also a need to review the development and promotion of small business in the country. Our experience in the past has been one of exclusion of small Solomon Islands businesses.”

The Central Bank Governor adds, several major projects that are much talked about for the past several years appear to be stuck, heading nowhere.

He said it is time for stakeholders to do less talk, but more action to expand and grow the Solomon Islands economy.

Meanwhile, the Central Bank Governor has questioned what tangible improvements exist in constituencies after so much aid money.

Launching the Bank’s 2013 Annual Report in Honiara today, Denton Rarawa asked what can be shown in terms of recent achievements, after 36 years of independence.

He also asked if there are tangible improvements people can point to, after receiving so much aid money and from the large amounts of resources the Government injected into constituencies.

He said there is an apparent inability to do things, especially creating more job opportunities for the country’s growing population.

The Central Bank Governor said Solomon Islands appears to have lost its focus adding, the country is still young to experience midlife crisis at the age of 36.

He adds, the main message is opportunity creation to grow the economy.

“But the message is we need to create opportunities to grow the economy. A lot of the big ticket items we have today, for example NFD, Soltuna, SIPL/GIPPOL, KFPL, Egon all evolved from the strategies and actions taken before and immediately after independence. The planting of coconut and cocoa came from agriculture development strategies dating back to pre-independence times.”

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