Monday, 16 July 2007 11:03 AM

Strong Leadership Important for Economic Growth: Hou

Governor of the Central Bank of Solomon Islands, Rick Hou, stated in his key note address at the Forum Economic Ministers Meeting in Palau that leadership is crucial for economic growth.

Rick Hou said that political leadership is very critical as it builds confidence and trust from both the citizens of the country and the international community.

Mr Hou said this can only be achieved by ensuring that good governance, macro-economic stability and security are paramount concerns for governments. Mr Hou went on to say that the political government is there to provide leadership and the necessary policy environment conducive for private sector development and growth.

Mr Hou said that there are a number of governments within the region that derive very little confidence from its citizens. He said that it is a serious matter because when governments chose to run with reforms, citizens of their country may think they are not serious. Mr Hou said the countries' experiences show that sustainable development can be achieved from a sustainable reform programme.

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