Vila Times

Solomon Islands: cash-flow crisis is over

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Solomon Islands government’s cash-flow crisis is over, said Finance minister Snyder Rini.

“The cash-flow crisis which the country experienced recently is not an issue anymore as revenue generation is back on track,” Mr Rini told the parliament, Solomon Star reports.

More than $400 million was appropriated for in the supplementary appropriation bill.

With the passage of the bill, Mr Rini said the assumption of poor government cash-flow is now water under the bridge and that the government will now be able to shoulder all its financial commitments in priority areas that touch the lives of Solomon Islanders.

In addition, he said the national inflation rate is improving to a point that is good for the current state of the economy.

The Government has been experiencing cash-flow issues since early this year that resulted in the non-payments of its bills and other financial commitments.