22 Jun 2011

Solomon Islands dollar revaluing promising sign to business community

2:59 pm on 22 June 2011

The Solomon Islands Chamber of Commerce is welcoming the revaluing of the currency as a sign of the government's willingness to make regulatory changes.

A five percent rise in the value of the Solomon Islands dollar took effect last week.

The finance minister says the appreciation was a result of discussions with the International Monetary Fund and the country's Central Bank about how to combat inflationary pressures.

The chamber's chief executive, Calvin Ziru, says five percent is probably not enough to make a real difference to people struggling with the cost of living but the chamber is viewing the move positively.

"This is an indication of government and the Central Bank making decisions to make some changes regulation wise to sort of improve not only the way that we do business but also primarily to buffer the effects of external influences on the cost of living in the Solomon Islands."

Calvin Ziru says what the chamber wants to see next are measures to sustain economic growth.