SOLOMONS LAWMAKER URGES PACIFIC CURRENCY

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HONIARA, Solomon Islands (SIBC, Feb. 9) - Opposition Foreign Affairs spokesman and East Kwaio Member of Parliament Alfred Sasako has urged the Solomon Islands government to revisit the idea of adopting Australian currency.

Mr Sasako says with the measure of stability that a regional peacekeeping force has brought to the Solomons, it is now critical to address the country’s economic problems.

But he says in order for the economy to improve, the country needs foreign investors who come in to do business and at the same time have confidence in the currency.

He says the Solomon Islands dollar has had a downhill slide since its devaluation two years ago, and the only way to arrest the slide is to consider the idea recently put forward by Australian Prime Minister John Howard that the pacific havea common currency.

Mr Sasako says the Australian currency is not showing any sign of weakness against the greenback, and it is important to get foreign investors into the country.

February 9, 2004

Solomon Islands Broadcasting Corp.: www.sibconline.com.sb

 

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