Announcing the appreciation, Finance Minister Gordon Darcy Lilo said this action was necessary given the spiraling inflation in the country. Mr Lilo also stated that the government has had extensive consultations with the Central Bank on the matter.Mr Lilo said strengthening the Solomon Islands dollars will help to alleviate the pressures and adverse situation that inflation is causing the country. He said this action is historic and necessary for the overall advancement of the country's economic development.He also said the change will benefit the rural people as there should be a marked decrease in the cost of basic goods. Mr Lilo also calls on business houses to observe the change.The Finance Minister said this change will be effective as of today morning.
Comment here or write your own Letter to the Editor.
Disclaimer: Solomon Times Online may edit or delete your comment and cannot guarantee that all submissions will be published or remain online. The comments expressed on these page are those of the authors and do not necessarily reflect the official policy or position of Solomon Times Online.