Monday, 21 July 2008 9:08 AM

Delay In Appointment of Central Bank Governor

The government is being blamed for the delay in appointing the next Governor of Central Bank.

The current Governor, Rick Hou's term expires August 20 but the government is yet to find a replacement.

Mr. Hou had made it clear earlier this year that he will not be renewing his contract and the government must quickly find a replacement.

Secretary to Board of the Central Bank of Solomon Islands, Edward Ronia told National Express that the Bank is worried with the delay.

He said the ideal situation would be to have the Governor appointed now while the outgoing one is still around as there will be a lot of handing over of work between the two.

Mr. Ronia said the delay is with the government.

"It's the minister who submit names to the Cabinet to decide and once the cabinet agree on a name, then it submits it to the Governor General for appoint."

He said as it is there has not been any news of an appointee "and we are getting worried with the current situation."

Mr. Ronia said the government must realise that it is not good to allow an important financial institution such as the CBSI to go without a head.

"This will be a risky situation and we fear we may be still without a governor when Rick leaves the bank."

Mr. Ronia calls on the responsible Minister to act quickly to avert any possible adverse situation that may arise from the situation.

"It is not good to leave the country's important financial institution in limbo," said Mr. Ronia.

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