Solomon Islands: Selected Issues

International Monetary Fund

No 2011/360, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper analyzes Solomon Islands’ ongoing reforms concerning of the mineral taxation regime and the fiscal impact of mineral resources. The analysis shows that mineral revenue could be substantial, provided that mineral prices remain strong in the medium term. Enforcing the tax agreement with, a Gold Ridge company, and implementing the new resource taxation regime are critical to ensure that the forthcoming mineral wealth spills over to the rest of the economy. Solomon Islands should adopt new fiscal rules and fiscal responsibility provisions to manage large but volatile resource revenue.

Keywords: ISCR; CR; revenue; tax; transmission mechanism; headline inflation; consumer goods price; basket regime; Gold Ridge tax agreement; monetary policy transmission mechanisms; mining revenue; inflation pressure; mineral revenue; Mining sector; Inflation; Non-renewable resources; Exchange rates; Consumer price indexes; Global; Pacific Islands; Asia and Pacific (search for similar items in EconPapers)
Pages: 24
Date: 2011-12-19
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