Worth of $100 in the Solomons
I read your article with interest and have noted there is no reference made to why SI$100 gives so little in return other than the high prices in the shops. Most goods in the Solomons are imported and therefore prices are subject to the flunctuations of the foreign currency exchange rates. Currently $1.00 is approximately equivalent to 20cents in Australia. Shop owners also have to make a profit otherwise how would they pay for the expenses to run a business? Until Solomon Islands produces and manufactures most of its food and commodities, the situation will not change. The government might introduce price controls to prevent price gauging and social welfare schemes to assist income disparages. However this will still not halt the demand for foreign goods on which the country is heavily reliant on or improve the Solomon dollar on the foreign exchange market. To tackle this dilemma it is better to educate people about addressing the root of the problem rather than the symptons. In addition my point to all these is it is better to have media coverage of both sides so better awareness is achieved.
Disclaimer: The views and opinions expressed in this letter are those of Cecilia and do not necessarily reflect the official policy or position of Solomon Times Online.
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