SOLOMON ISLANDS CENTRAL BANK GOVERNOR PAINTS BRIGHTER 1999

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HONIARA, Solomon Islands (May 10, 1999 - Radio Australia)---The Governor of the Solomon Islands Central Bank is predicting an improved economic outlook for next year, after a devastating seven percent drop in 1998.

Governor Rick Ho blames the Asian economic crisis and its effects on the Solomon Islands’ logging industry for the economic drop and the increase in unemployment and inflation.

Ho said the government is looking to the private sector and overseas for renewed growth in 1999:

"If we are going to develop the economy, if we are going to turn the economy around, we can't really do it ourselves. We need the cooperation and help of development partners and we are seeing multi-lateral and bilateral sources as development partners, and I think that's the approach we are taking."

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